Development Agreement for Great North Leisure Park and Finchley Leisure Centre

About

London Borough of Barnet awarded a contract to Regal GNLP Limited for a development agreement concerning the Great North Leisure Park and Finchley Leisure Centre.

The project involves developing the site north of the Great North Leisure Park in Finchley, London, into a residential-led mixed-use scheme, including the plot occupied by the current Finchley Leisure Centre.

The London Borough of Barnet, as freeholder of the land, entered the agreement with Regal GNLP Limited, which owns a long headlease of the Great North Leisure Park and a headlease of land to the north known as Glebelands.

Part of the land within the headlease is subject to an underlease back to the London Borough of Barnet for the current Finchley Leisure Centre.

The site to the north of the Great North Leisure Park was identified as suitable for a replacement leisure centre, aiming to refresh facilities and improve local leisure provision.

The contract value is AUD 45,000,000.