Agenda item

Meridian Water - Meridian Two, Selection of Development Partner

A report from the Executive Director – Place is attached. This report includes an appendix containing exempt information which should be considered in conjunction with the part one report. (Key decision – reference number 4952)

 (Report No.215)


Councillor Nesil Caliskan (Leader) introduced the report of the Executive Director – Place (No.215) recommending the selection of a development partner to deliver “Meridian Two”.




1.            The content of the appendix containing exempt information in considering the report and the decisions set out below.


2.            That “Meridian Two” was a site which would deliver approximately 250 homes, 100% of which would be affordable (50% London Affordable Rent and 50% as intermediate tenures), and 3,000 square metres of workspace at the site of the former gas holder site at Leeside Road.


3.            That the GLA’s London Development Panel 2 Framework had been used to undertake the procurement. The report recommended entering into a Development Agreement with the successful bidder, selected in accordance with the terms of the procurement.


4.         That this was a complex and challenging site that was a gateway to Meridian Water and located close to the train station and Pymmes Brook and park. The development supported the Council’s residential housing and employment priorities. A discussion took place on the employment opportunities that would be made available, as set out in the report. It was proposed to develop a hub of skilled creative employment space to attract local businesses, start-up businesses and local entrepreneurs. The opportunities provided would be explored and promoted in the Borough.


5.         That the Council would be seeking maximum nomination rights to the housing provided for the benefit of Enfield residents in support of the Council’s Housing Allocations Policy.


6.         Members welcomed the creation of a Park within Meridian Water, with its opening anticipated in 2023; this would be one of the biggest new parks in London. A discussion took place on the potential wildlife that could be attracted to the area.


Alternative Options Considered: NOTED, the alternative options considered as set out in full in section 4 of the report including selecting Bidder B; and, ending the current procurement.


DECISION: The Cabinet agreed to


1.            Approve the selection and subsequent appointment of Bidder A (as detailed in the Appendix containing exempt information) as the Preferred Developer.


2.            Note that the occupiers of the workspace would be determined in accordance with the Employment Strategy.


3.            Authorise the Council to dispose of the Meridian Two site at an undervalue, within the provisions of section 123 of the Local Government Act and the Local Government Act 1972, General Disposal Consent by virtue of the disposal securing the promotion and/or improvement of the economic, social and/or environmental well-being of the Council’s area. Further details of the undervalue were set out in the confidential appendix in the confidential property implications.


4.            Authorise the development of a 100% affordable housing scheme at Meridian Two on the terms as set out in the confidential appendix on the basis that a subsequent sub phase(s) within Phase 2, would provide a lower level of affordable housing as set out in section 11.2 of the confidential appendix.


5.            Authorise the Programme Director for Meridian Water (in consultation with the Director of Law and Governance, the Director of Property and Economy, and the Executive Director of Resources) to finalise the terms of the Development Agreement and ancillary documents for Meridian Two.


6.            Delegate authority to the Director of Law and Governance to enter into the Development Agreement and any ancillary documents.


7.            Approve the Council forward funding or underwriting the enabling works costs of the Developer as set out in the confidential appendix at sections 6.4 and 6.5 of the report.


8.            Delegate authority to the Programme Director for Meridian Water to negotiate the level, timing and payment profile for the deal.


Reason: To enter into a Development Agreement with Bidder A on the terms offered, as set out in full in section 5 of the report.

(Key decision – reference number 4952)

Supporting documents: