Broxbourne Borough Council and Hertfordshire County Council, advised by Cushman & Wakefield, have launched the search for a development and investment partner for Brookfield Riverside, a major new retail and leisure development opportunity.
Situated just outside the M25, the site presents an exceptional opportunity to create a blue-chip, fashion and lifestyle-led town centre scheme in an affluent South East catchment area. The selected developer will work with both Councils to create a town centre for the local area and will form part of the wider Brookfield development.
Plans include up to 30,000 sq m of net retail comparison floorspace, approximately 3,500 sq m of retail convenience floorspace, 10,000 sq m of leisure accommodation and ancillary accommodation, which may include residential. There will be a landscaped environment with high-quality public realm and a new link road that will connect Riverside to the Turnford Interchange and the Garden Village.
The Councils are seeking a development / investment partner to create an overall masterplan for the site as well as to deliver a retail and leisure-led first phase and subsequently potentially later phases of the project.
Mark Mills-Bishop, Leader of Broxbourne Borough Council, said: “We are really excited about our two Councils working together to provide comprehensive retail, leisure, commercial and civic facilities for current and future residents. Brookfield Riverside is at the heart of our strategy to strengthen the identity of the area as well as boosting the local economy. This is only the beginning of what is going to be a transformational project for the area.”
David Williams, Leader of Hertfordshire County Council, said: “The Brookfield Riverside development is a great example of the investment we are making across the county, in partnership with district and borough councils, to ensure we keep up with the pace of growth that is forecast over the next 15 years and that all the local plans fit with our vision for the county as a whole. This development is a real opportunity to create a new town centre for Broxbourne which will be extremely beneficial for residents and neighbouring towns and villages. We’re excited to work with the appointed developer in the near future.”
Paul Ellis, Partner at Cushman & Wakefield, comments: “Brookfield Riverside is a significant opportunity to create a major new retail and leisure hub just outside London, strategically positioned in an affluent area that will attract aspirational fashion and lifestyle brands to the town centre. By creating a high-quality landscaped environment, the development is sure to become a destination for those living in the new Brookfield Garden Village and in the surrounding areas.”
The procurement process has now formally commenced and development/investment partners have been invited to submit a request to participate. The Councils are aiming to shortlist four parties by March 2018, with a target to select a preferred bidder by September 2018.
