The London Borough of Enfield had a demand for new school places to be delivered in a constrained timescale as part of their Primary Capital expansion programme. The ambitious plan proposed to deliver 2100 new primary places in a 16 month programme.
Following a feasibility study across 13 sites which identified site potential, the development plan proposed to extend 7 primary school sites to accommodate a further 9FE in 16 months. The project was part funded by the sale of a surplus transport depot site, Carterhatch Depot which had also undergone feasibility testing for housing, and gained senior level support for the proposal.
The council were able to meet their demand for new school places of 9FE within the constrained timescales, and as a result of the Carterhatch sale to a development partner for residential housing, they were able to support the social housing policy with a solution for affordable housing.
Cornerstone acted as broker in the sale of the Carterhatch site to a development partner, taking full financial risk up front and ensuring that the PEP was not dependent on the development proposals and subsequent sale of the Carterhatch site. In addition to brokerage services, Cornerstone acted as an advisor to both the PEP and the Carterhatch housing scheme undertaking feasibility studies using subcontractors, developing planning to RIBA stage 3, supporting the planning applications and in the procurement process for both the PEP and the development partner.