A ground breaking ceremony was held marking the “second phase” of a major development.

Three Rivers District Council members joined representatives from Countryside and Home Group to launch Phase Two of the South Oxhey Central regeneration.

Hertfordshire Local Enterprise Partnership, Homes England and parish, district and county councillors and community board members were also present.

This second phase represents a portion of the £150 million development comprising an 8,500 square foot retail space, new marketplace and 174 homes, 48 of which will be affordable.

Hertfordshire Local Enterprise Partnership have contributed £2.25 million through the Local Growth Fund.

The third and final phase is scheduled for completion by 2022.

When finished, the two-acre development will feature 55,000 square feet of retail and commercial property, including an 18,880 square foot Lidl shop, a shopping space at Carpenders Park railway station and 514 homes which will be a mixture of private sale and affordable rent housing.

This will include 117 affordable homes, 96 social rent and 21 shared ownership properties.

Mike Woolliscroft, managing director for partnerships south (west London) at Countryside, said: “Having worked closely in partnership with Three Rivers District Council and Home Group, today’s ground breaking is a milestone marking the excellent partnership and hard work which will benefit the community, creating high value homes set within a network of attractive, high-quality public spaces.”

Brian Ham, executive director of development at Home Group, said: “Phase Two is such a significant phase as it will really start to shape the new-look South Oxhey Central area. That’s why everyone involved is so pleased work is underway.

“The 48 new affordable homes in this phase are being delivered in line with the housing needs we’ve identified in the area.”

Jake Berry MP, minister for Local Growth, said: “This ambitious £150m regeneration scheme will bring a strong boost to the local economy by providing over 500 new homes, up to 270 jobs and 55,000 square feet of retail and public space by 2022.”

Sara Bedford, leader of Three Rivers District Council, added: “We want to build more homes to help our residents.

“We are happy that we are working effectively in partnership with Countryside and the Home Group, pooling resources together and maximising the output for our communities.”

Tina Barnard, chair of the strategic infrastructure board at Hertfordshire Local Enterprise Partnership praised the development’s progress saying it would be a “benefit of generations to come”, while Carol Cairns, head of ownership and supply for Homes England in the South East said her organisation was committed to delivering of affordable homes where needed.