Tower block scheme delayed not derailed
AMBITIOUS plans to build a 12-storey block of flats on land owned by a city railway museum have been delayed by the recession.
An application for construction of the tower block and other homes on six acres of disused land, off River Lane, close to the River Nene, was to have been submitted to Peterborough City Council by last December.
However, the economic downturn has pushed the project back.
Now, contracts for the sale of the land are being renegotiated – but charity rail museum Railworld, which owns the site, is hoping a deal can soon be struck.
It wants to sell the land to housing developers Almaren to raise cash towards its new £10 million TransEco Exhibition Centre.
The sale would also allow St Ives-based Almaren to start work on the-scheme which would see the tower, dominate Peterborough’s skyline as the city’s tallest building.
The whole development would see Almaren construct a range of homes – 278 one and two bedroom flats, 20 three-bedroom houses and 10 four-bedroom maisonettes.
Around £250,000 of the cash would be spent on improvements to junctions at Thorpe Road and River Lane to cater for the increased traffic flow.
The president of Railworld, the Rev Richard Paten, said they were currently locked in detailed negotiations with Almaren over the contract to buy the land.
They agreed a priced of around £6 million for the plot back in March 2007.
However, Rev Paten said: “Almaren came back to us just under a year ago saying the situation had changed and they want to re-negotiate the contract with us.
“We were understanding with them and the new contract is nearly signed. It’s frustrating, but that’s the way of the world.
“We are very confident in spite of the difficulties that it is going to happen.”
The TransEco Exhibition Centr would educate people on environmental issues, as well as rehousing Railworld’s existing transport displays.
Rev Paten added: “We hope that the TransEco centre will be something for the whole of Peterborough.”
Almaren were unable to comment at the time of going to press.
ARTISTS’ IMPRESSION: How Railworld’s TransEco Exhibition Centre could look.