A new application to build 150 new homes on green belt land near a reservoir has been submitted.

Liberty Lake Leisure Ltd, formerly known as Liberty Aldenham, withdrew an application in 2015 to build the same amount of new homes on the land, a third of which would have been affordable housing.

Now the developer has submitted a new planning application to Hertsmere Borough council’s planning committee and many people are concerned for the future of Aldenham Reservoir, in Daggers Lane, Aldenham.

If planning permission is granted Liberty Lake Leisure Ltd say they will set up a community interest company (CIC) and give it £5million to use to preserve the reservoir for the benefit of the public.

The Elstree and Borehamwood Residents Association (EBRA) is opposing the application on the grounds that this is not the best solution for the land or the reservoir.

Andrew Lewis, chairman of EBRA, said: “Residents are not convinced that this is the best option for the reservoir.

“There is too much scope for Liberty to fail to deliver if permission is granted. They could become insolvent, or undergo a corporate restructuring or build some houses and sell on the development.

“We are also concerned that this is a relatively large development on green belt land in an area which is noted by the Environment Agency to be at risk of surface water flooding and which would have a significant impact on the traffic network which already suffers from congestion.”

Liberty Lake Leisure Ltd has bought the lake from the previous owner Safari Investments after an earlier scheme to repair it in return for permission to build homes was rejected.

Hazel Young, from Elstree, said: “I am very concerned that Aldenham Reservoir which has always been available for public use, has now fallen into the hands of a developer who is using the reservoir simply as a bargaining tool. This seems an extraordinary situation.”

According to EBRA, for Aldenham Reservoir to be in private hands is very much an exceptional position as the majority of reservoirs in the UK are owned and managed by water companies.

EBRA says the developer has not held a public consultation and they are concerned many residents are not fully informed and are reluctant to make representations to the planning committee.

MP for Hertsmere Oliver Dowden has been following progress and met representatives of Liberty Lake Leisure Ltd in April.

He said: “I would encourage all those concerned about the future of the reservoir and Liberty Aldenham’s planning application to make their views known by contacting the planning department at Hertsmere Borough Council.”

“Clearly this is a significant decision that the members of the planning committee are going to have to make weighing up a number of different factors.”

Anyone wishing to make their views heard to Hertsmere Borough Council will need to do so by July 27 and can email at consult.planning@hertsmere.gov.uk.