Enfield Council's leader, Cllr Nesil Caliskan, has issued a statement on the news that developers PCPD have pulled out of becoming master developers for Meridian Water.
Enfield Council Leader Cllr Nesil Caliskan said,
“Enfield Council has been informed today that PCPD are withdrawing from negotiations with the Council to become master-developer for Meridian Water.
"This follows the Council previously confirming to PCPD that significant concerns remained over their proposed commercial and financial terms, specifically following PCPD presenting to the Council’s new Cabinet on 26th June.
“Although the discussions with PCPD were held in a great spirit of cooperation, we have been preparing for all eventualities and a series of reports are being presented to Enfield Council’s Cabinet on 25 July which set out a clear strategy for accelerating delivery at Meridian Water. Our approach will also ensure that local people are the principle beneficiaries of the new homes and jobs that will be created.
“Subject to Cabinet approval, we no longer intend to work with a single master-developer for the entire regeneration area and instead will now quickly procure development partners for the first three development sites.
"These will deliver over 900 new homes, including around the new train station which opens next Spring, and the first major employment site which will create nearly 1,000 new jobs.
“Meanwhile we are also progressing our detailed business case for the Housing Infrastructure Fund, which will see £120 million of Government funding to connect all parts of Meridian Water to the new train station and improve the frequency of train services as well.
“Meridian Water has always been a huge opportunity to deliver a significant number of much needed homes.
"I am determined to seize the opportunity to deliver homes and premises to benefit Enfield’s residents and businesses first and foremost. We will speed up delivery. I look forward to making a further announcement following the forthcoming Cabinet meeting.”