The New Ladderswood regeneration project in New Southgate will take five years to build and contain 60% of homes for private sale and 40% affordable.

The scheme will also include a new community centre, a new park area and over 4,000 sq metres of commercial space including an 80 bedroom hotel.

A detailed planning application for the entire site is due to be submitted to the local authority next month with the first homes due for completion in early 2014.

Mulalley director Eamon O’Malley said: “This is an exciting opportunity to regenerate and uplift this overlooked part of London and provide excellent quality homes in a new dynamic location where people will want to live and work”.

Alan Williams, Group Development Director of One Housing Group said: “There is a real shortage of affordable homes across London and to be investing £100m into this regeneration in the current climate shows our commitment to Enfield and the surrounding area.”