Sovereign Peveril JV submits plans for £500m Hertfordshire mixed-use scheme Posted on: September 27th, 2022 Hertfordshire is to get an entirely new town centre, with plans submitted today for the £500m Brookfield Riverside development in Cheshunt. Designed by Lyons+Sleeman+Hoare, the 1m sq ft Brookfield Riverside will rise at the intersection of the M11 and M25 motorways. Sovereign Centros are in a development partnership with Peveril Securities. The parties were appointed by Broxbourne Borough Council and Hertfordshire County Council as their development partners following a competitive tendering process. Development agreement signed. Plans propose a major mixed use new town centre. The concept envisages a total of 900,000 sq ft with an appropriate mix of retail, leisure, residential, office and hotel uses. Sustainability is at the core of the development principles, together with a minimum biodiversity net gain of 10%. The site was allocated in June 2020 as a new town centre location within the local plan adjacent to the development of a new garden village of over 1,250 residential units.