The £150 million joint venture is replacing dilapidated, out-of-date buildings with modern, more energy efficient spaces for local small to medium sized enterprises (SMEs).Enfield Council’s Leader, Cllr Nesil Caliskan and the Cabinet Member for Finance & Resources, Cllr Mary Maguire, met council officers who have worked on the project and a team from property developer HBD, the council’s joint-venture partner. They joined a tour of the scheme on Monday 24 January to view the completed first phase, which comprises nine industrial units totalling 60,000 sq. ft. of new space.Two thirds of the completed phase is already let or under offer. One of the new tenants, Hived, (pictured) is the first mass-market, zero emission parcel delivery provider, offering greener and cheaper solutions from warehouses directly to customers.
Cllr Maguire said: “Montagu Industrial Estate is transforming into a modern, fit-for-purpose and accessible site welcoming businesses that are at the forefront of manufacturing and logistics. The development will also have a significant impact on the local community, helping with the creation of a variety of high-quality jobs within the borough and new opportunities for innovative businesses. I am also extremely happy to see that as well as providing new homes for existing and expanding local companies, we are also welcoming new businesses such as Hived to the area.”
Adrian Schofield, Senior Director and Head of Region at HBD, said: “We have seen strong interest in Workstown from a wide-range of businesses, from start-ups through to larger companies - 70 per cent of the scheme was under offer before completion, which reflects the quality of the development. It is a fantastic regeneration project and we look forward to bringing forward the further phases of the redevelopment.”
Located just north of the A406, the 29-acre scheme is being redeveloped in phases to create more than 350,000 sq. ft. of employment space. The transformation is part of the Council’s ongoing and wider regeneration of the Edmonton area to create new opportunities, support employment and establish a new business community.
The revamp of the estate is expected to create hundreds of new jobs, a significant boost for Edmonton. The estate, which housed some units from the 1950s has suffered from anti-social behaviour and unauthorised activities on the site, which has had a detrimental impact on surrounding residential areas.
The next phases and compulsory purchase order are scheduled to be discussed at March’s Cabinet meeting. An overall masterplan will show how the remaining phases will be delivered.