On behalf of the owners, RivingtonHark has completed the regear of the long leasehold interest of Palace Gardens with Enfield Council, the freeholder.  The new 250 year lease modernises the lease and enables residential development with an extended user clause and air rights.  The new lease follows extended negotiations during which it was also agreed that the council would surrender their interest in the 510 space car park giving the owners control of all 1020 car park spaces in the combined Palace Gardens and Palace Exchange centres.

Bringing the regeneration forward, RivingtonHark has appointed and managed the project team with the pre-application stages having just been completed to identify the scale and form of potential development.  300 new homes in build to rent format are proposed above a new shopping street connecting the retained parts of the centre.  The six individually designed buildings in a Conservation Area follow extensive consultation with planning officers, local residents and Historic England to bring forward new homes and community-based shopping in an accessible location to maximise the potential of this site.

Andrew Goodwin, Projects Manager at RivingtonHark:  “The new lease secures the long-term objective of the owners to modernise the headlease and optimise comprehensive mixed-use regeneration of parts of the centre where the need for redevelopment has been identified and have control of the car parking.  It follows the completion of the improvements to the public areas and opening of an extended Pearsons department store in 2025.  The new homes and shopping will complete the regeneration and support the long terms future of this important outer London centre.“