Search starts for investors to fund £600m city revamp

A rallying call has gone out to developers to back a golden future for Peterborough with a £600 million investment in the city’s regeneration.

Local and national politicians and civic officials lined up to extol the city’s abundance of economic assets during a two houronlineconferenceforinvestors and developers.

The goal was to inspire financiers, entrepreneurs and developers to dig deep and invest in the city’s eight key development sites that make up the city’s regeneration masterplan.

It is hoped a £43 million development of the Station Quarter will help kick start the regeneration at North Westgate, Northminster, Rivergate, the University, Embankment, Middleholme and Fletton Quays.

Combined authority mayor James Palmer told the 90-strong audience: “Peterborough is at its greatest and most successful period ever.

“Peterborough is the catalyst for the levelling up of the area.”

Theconference, whichwas stagedjointlybyPeterborough

City Council and the city economicdevelopmentcompany Opportunity Peterborough, also heard a plea from Peterborough MP Paul Bristow for investors to get involved.

Hesaid: “Thisis avision for Peterborough for the next 20 or 30 years.

“This vision is real. This is a confident city, a connected city, a working city and safe, clean and a happy city.

“TheGovernmenthasseen the potential in Peterborough and has awarded a £14.6 million grant for a research super hub here – just about the largest individual grant in the country.

“I hope as many of you get

onboardandsharethisvision as possible. The future of Peterborough is bright.”

North West Cambridgeshire MP Shailesh Vara said: “It is significant that Peterborough has a fantastic story to tell about a track record of achievement. We can build on this – we are not starting anew.”

Mr Vara highlighted some of the Greater Peterborough area’s assets including its location, its transport links, its working population, the strength and diversity of its 26,000 businesses and its affordable housing.

He said: “This really is a great place to come. We don’t

havetobeshyortimid, Wecan say we have a proud record, thesewonderfulstatisticsand big name businesses and we should not bereluctant to talk about them.”

Council leader John Holdich said: “Theseare the most ambitiousdevelopmentplans we’ve had for decades.”

OP chief executive Tom Hennessy said: “We are very excited about the opportunities all these sites will create.

“The time is now to drive forward with these opportunities andI’dencourageeveryone interested to get involved and contact us.

“I hopethis will be the first of many such events.”

Tom Hennessy, chief executive of Opportunity Peterborough