PCPD withdraws from Meridian Water project in Enfield 

Pacific Century Premium Developments has withdrawn from negotiations with Enfield Council for the development of Meridian Water.  Barratt had been selected as the development partner for the 210-acre, 2,000-home site, but withdrew from the process at the end of 2017. The £6bn project thus fell to the second bidder, PCPD.  Nesil Caliskan, Enfield council leader, said: “Enfield Council has been informed today that PCPD is 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 its proposed commercial and financial terms, specifically following PCPD presenting to the council’s new cabinet on 26 June.” The council now intends to no longer work with a single master developer for the entire regeneration area and instead will procure development partners for the first three development sites.   These will deliver more than 900 new homes, some of which will be near the new train station, which opens next spring, as well as employment sites.  Caliskan added: “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.” To send feedback, e-mail alex.peace@egi.co.uk or tweet @egalexpeace or @estatesgazette