Property developer HBD has started on site with a major regeneration project in Enfield spanning 27-acres of prime development land in the capital.
The project will see the complete transformation of the Montagu Industrial Estate site, large parts of which are dilapidated and under-used, replacing it with modern space for local SMEs.
The development is a joint venture partnership between Enfield Council and HBD.
Work has now started on the first phase of the project, which secured planning permission in July 2020. Contractor, Readie Construction, has been appointed to build the new units, which will be available from October 2021.
Harry Bunbury, Director at HBD, said: “It’s not every day that we get the opportunity to regenerate a site of this size in London – it has huge potential and we look forward to getting started on its transformation, creating new jobs and bringing investment into Enfield.”
He continued: “The first phase of the scheme will provide business space tailored to local SMEs, allowing them to grow and expand. The second phase, which will progress in the coming months, will add space for larger businesses, creating a diverse business ecosystem at EN406.”
Enfield Council’s Leader, Cllr Nesil Caliskan, said: “The Montagu Industrial Estate will become a modern, well-equipped and accessible industrial area and we are extremely excited that its transformation is about to start with HBD. The regeneration of the estate will not only encourage new businesses but will also help create high-quality jobs for local residents. It will also have a positive impact on the surrounding neighbourhood and local economy.”
In the first phase of the scheme, 55,000 sq. ft. will be available to SMEs, with units ranging from 3,500 sq. ft. through to 8,374 sq. ft. The warehouse and industrial units will also include office space.
HBD has seven offices in Sheffield, Leeds, Manchester, Birmingham, London, Bristol and Glasgow. It is working with a diverse UK-wide portfolio, comprising office spaces and logistics through to residential innovation and award-winning heritage projects.
The developer benefits from a strong track record in partnering with local authorities on the delivery of large regeneration projects, with several such schemes currently underway in the South East, including Airport Business Park Southend and Butterfield Business Park in Luton.