Green light for £500m Hertfordshire mixed-use development

22nd June 2023 | Jack Oliver

A £500m mixed-use development in Cheshunt, Hertfordshire has been granted planning permission by the Borough of Broxbourne Council.

Named Brookfield Riverside, the development looks to create a new town centre for the borough and is expected to consist of up to 315,000 sq ft of retail space, 250,000 sq ft of leisure and F&B space, public realm improvements, 160,000 sq ft of offices, around 250 homes and 100 assisted living units, and a 2,000-space car park.

The site was highlighted in the Broxbourne Local Plan 2018-2033, which was approved by an independent planning inspector in 2020.

New walking and cycling routes across the development have also been outlined, as well as bus services to connect it to the surrounding area.

The development also has a biodiversity increase target of 10%, with over 15,000 trees expected to be planted across the site.

Councillor Lewis Cocking, leader of Borough of Broxbourne Council, said: “The developments will create much-needed housing and affordable homes, a variety of leisure and retail facilities, including a new cinema and up to 2,500 permanent new jobs.  This will not only be good for the local economy, but will also have environmental benefits; the new town centre will be fully integrated with the public transport, cycling and walking networks and local people will no longer have to travel outside of the area for their shopping and leisure needs.”

The developments are being brought forward by Sovereign Peveril, a joint venture between Sovereign Centros and Peveril Securities.

Chris Geaves, chief executive of Sovereign Centros, said: “This is a transformative urban regeneration project that will boost employment and economic opportunities in the region. It is one of London and the south east’s last regeneration opportunities on this scale and will create a new heart for shopping and leisure in this superb location.”

Construction is expected to commence in 2024.


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