Inland Homes has submitted an outline planning application for the £650 million Cheshunt Lakeside regeneration project.
Up to 1,853 homes will be delivered across the 30-acre site, as well as over 18,000 sq m of commercial, retail, community, leisure and education space.
Other features include the delivery of a two-form primary school, community space and a number of infrastructure improvements, including a new bus connection to Cheshunt Rail Station and new pedestrian, cycle, public transport and vehicular routes. Overall, the scheme is expected to genreate up to 1,000 jobs once finished and create a further 250 construction jobs.
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Inland Homes acquired the original 13-acre site, which included Tesco's former HQ, by way of a 50/50 Joint Venture with a third party in July 2016. It has since assumed control of a number of additional parcels of land which form part of the planning application.
Stephen Wicks, Chief Executive Officer (CEO), said: "This is a major milestone for Inland Homes, at what will be one of the South East's major regeneration schemes. By combining the expertise of our planning and remediation team with our rapidly growing in-house construction platform, we are in a unique position to be able to deliver a thriving residential and business community with the creation of thousands of new jobs and significant inward investment.
"The potential social and economic benefits of this scheme are huge, and at a time when the government is looking for solutions to solve the shortage of affordable housing, we are pleased to be able to work alongside the forward thinking Broxbourne Borough Council to deliver this scheme. Furthermore, for our shareholders, we expect Cheshunt Lakeside to be a strong driver of capital and income growth for the business for many years to come."
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