The new Brookfield Riverside Shopping Centre Development will be developed by Sovereign Centros alongside Peveril Securities in agreement with Broxbourne Borough Council and Hertfordshire County Council.
It is envisaged that the £400M Riverside scheme will include up to 315,000sq ft of retailer, 250,000sq ft of leisure, restaurants and a cinema, 160,000sq ft of offices including a new civic hub, around 250 homes and 100 assisted living units.
A planning application is being worked up, ready to be submitted later this year. Brookfield Riverside will sit adjacent to Brookfield Garden Village, the councils’ 300-acre residential site which will accommodate 1,350 new homes.
Chris Geaves, Chief Executive of Sovereign Centros, commented: “This is a truly exciting development. It’s groundbreaking and will be a new concept for retail and leisure in an area of the country where there is little competition and a very wealthy catchment of 1.5 million people within a 30 minute drive time with a market potential spend of £1 billion.”