The proposals are meant to make The Embankment more accessible and improve pedestrian links between the city centre and the South Bank.

The Rivergate East scheme is one of an array of targets that have been outlined in a three-year business plan drawn up by the urban regeneration company, Opportunity Peterborough.

The city's law courts would move to a new civic quarter, while studies into the potential of establishing a digital centre of excellence, transforming Crescent Bridge roundabout near Queensgate, and building a giant new music arena will be commissioned.

There will also be a feasibility study to look into ways to regenerate 12 hectares of land to the east of Frank Perkins Parkway known as Fengate II, which was previously earmarked as a prime site for a marina.

And OP has also made clear its intention to bring an Ikea store to Peterborough.

Although the future of Peterborough United's London Road stadium has still to be finalised, that area will become a key part in the city's regeneration plans.

The business plan sets out a timetable for the evolution of major projects, including the Station Quarter, the 450-home Carbon Challenge development, the University Centre and the South Bank.

Peterborough City Council leader John Peach said: "It could take five, six or seven years for many of these things to come to fruition, but we now have a timetable for the future."

Read more from our feature:
Future Peterborough: Regeneration special in association with Opportunity Peterborough - peterboroughtoday.co.uk/futurepeterborough.
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