The Watford Riverwell Joint Venture (JV) is a partnership between Kier Property and Watford Borough Council...
The JV is marking significant progress across its landmark regeneration scheme, with a new housing phase (Avenues Phase Two) moving forward and further investment reinforcing confidence in the long-term regeneration of the area.
Over recent years the Watford Riverwell area has been transformed into one of Hertfordshire’s most ambitious and successful regeneration projects, having already delivered 580 high-quality new homes, more than 2 acres of green space, and enhanced connectivity to the hospital thanks to a new £15m link road, south of Watford town centre. A growing and thriving new community is taking shape, supported by c£40m of new infrastructure and improved connectivity to the town centre and Watford General Hospital.
Elected Mayor of Watford, Peter Taylor at practical completion of Block 10 within Avenues Phase 1
Building on this momentum, the Riverwell Joint Venture has exchanged contracts with global real estate investor Kennedy Wilson who will own the next residential phase comprising 47 high-quality family homes for rent, forming part of the wider 1,000-home masterplan. This next housing phase will be delivered in partnership with Vistry, to ensure a continued pipeline of delivery and investment at Watford Riverwell.
This is a key step forward in addressing the need for high-quality single-family housing and reinforces the long-term regeneration objectives for the Riverwell area. The homes will be delivered to a strong environmental specification, incorporating air source heat pumps and energy-efficient technologies to reduce carbon emissions and support lower running costs for residents.
Alongside Avenues, construction is also progressing at Riverwell Square, the next major phase currently on site, which will deliver a new focal point for the neighbourhood with a 131-bedroom Travelodge hotel, a Tesco and Greggs food store as well as a new public realm and community-focused space.
With full planning consent secured and construction anticipated to commence on Avenues early in 2026, Watford Riverwell continues to demonstrate how long-term public and private sector collaboration can deliver meaningful regeneration. As Riverwell Square also progresses on site and future phases come forward, the Joint Venture remains focused on creating a well-connected, sustainable and thriving new neighbourhood for Watford.
Leigh Thomas, Group Managing Director at Kier Property, said: “We are thrilled to see this next phase of the Watford Riverwell masterplan come to fruition. Our relationship with Vistry and Kennedy Wilson continues to grow and this latest partnership demonstrates how effective collaboration can unlock complex sites to deliver vital housing and infrastructure. Avenues will be a fantastic addition to the neighbourhood, complementing the work already undertaken to create a vibrant new community.”
Elected Mayor of Watford, Peter Taylor, said: “This next phase at Riverwell shows the strength of our long-term partnership and the continued confidence businesses have in Watford. By working closely with our partners, we are delivering high-quality, energy-efficient family homes alongside new infrastructure, improved connections, and public spaces for all to enjoy. It’s a clear example of how collaboration can help create new sustainable and thriving neighbourhoods for residents in our town.”
Mike Pegler, President, Kennedy Wilson Europe, added: “We are pleased to partner with Vistry and Kier Property to bring these high-quality single-family housing schemes to market. These acquisitions align with our strategy to deliver premium rental communities in key growth areas.”
Kevin Delve, Managing Director at Vistry (East London), added: “Avenues is an exceptional site in an outstanding location and we are delighted to have exchanged contracts on this latest phase alongside our partners at Kier Property. This marks the first partnership between Kier Property and Vistry’s London division, building on a strong national relationship and paving the way for further collaboration. Delivering 47 high-quality family homes will provide much-needed housing choice for the Watford community while supporting the wider regeneration of the area.”
For more information on the Watford Riverwell regeneration project, visit www.watfordriverwell.com.
