Lawyers at international legal practice Osborne Clarke have advised Vistry Partnerships on the development agreement for Meridian One, the first phase of the £6bn Meridian Water development in London.
Meridian Water is a 20-year regeneration programme led by Enfield Council and covers 210 acres of north London between Edmonton, Tottenham and Walthamstow.
Enfield Council and developer Vistry Partnerships have signed the development agreement which will see approximately 900 new homes built on Meridian One with enabling works on the £250m project starting in the next few months.
Meridian One was granted outline planning permission in 2017, and a planning application for the details of the first homes will be submitted by Vistry Partnerships (formerly Galliford Try Partnerships) this year.
Half of all the new homes on Meridian One will be built by Vistry Partnerships as affordable housing, 50% of which will be council-owned, and provided at London affordable rent levels, while the remaining homes will provide a range of tenures and housing types to respond to market housing need during the construction of Meridian One. The first new homes will be completed in 2022.
The Osborne Clarke team was led by Bristol-based real estate Partner Michelle McGurl.
She was assisted by Senior Associates Gareth Hutchings and Caroline Bush, Legal Director Catherine Gunz, Associate Directors Amy Stray and Damocles Merry, in addition to Bristol-based Partners Catherine Wolfenden, Tracey Wright, Matthew Germain and Alexandra Gower.
Osborne Clarke is a recognised industry leader in real estate, providing a comprehensive lifecycle service and advising major real estate industry organisations, ranging from developers and investors to property funds and corporate occupiers.