Market Leads & Opportunities
Inland agrees S106 deal for Cheshunt Lakeside
The developer of a £620m ‘urban village’ in Hertfordshire has agreed to pay the local authority £14m in exchange for planning permission.Inland Homes secured planning permission from Broxbourne Council in June for its Cheshunt Lakeside development, subject to a Section 106 agreement.Under Section 106 of the 1990 Town & Country Planning Act, local authorities can demand money from developers to pay for infrastructure that is required to make the proposed development acceptable. Cheshunt Lakeside’s Section 106 agreement sees the developer provide more than £14m towards a new primary school, affordable housing, contributions towards secondary schools and improved transport links, including a new road, bus route and upgrades to Cheshunt railway station.The Cheshunt Lakeside masterplan comprises 1,725 homes and 19,000 m2 of commercial space on the former Hertfordshire headquarters of grocery chain Tesco.
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