Peterborough riverside plans for homes and shops are set to float this year

Charles Flynn, chief executive of the Lucent Group
Charles Flynn, chief executive of the Lucent Group

The boss of the land development specialists driving the regeneration of key sites in Peterborough says exciting plans for the first project will be ready soon.

Charles Flynn is chief executive of the Lucent Group, which has agreed a venture partnership with Peterborough City Council.

The prime riverside development land at Fletton Quays.

The prime riverside development land at Fletton Quays.

The partnership is expected to secure investment in the city of £130 million plus.

It has been set up to open awkward sites in the city for development (read more about this deal).

Lucent excels in making derelict or difficult sites “shovel ready” so a developer just has to build.

Top of the list is Fletton Quays. Others include The Wirrina car park and Northminster/Bayard Place.

Mr Flynn said: “I expect we will have a planning application for the Fletton Quays site determined this year.”

The aim is to create 500 homes plus 120,000 sq ft of office space and retail and leisure uses on the prime riverside site.

Mr Flynn said: “We specialise in getting sites ready for the development.

“We provide the capital which enables sites to be made “shovel ready”.

“We will have a team of about six of our staff in Peterborough - initially based at the town hall.

“But we will create work for hundreds of people as well and will use local expertise - technical and legal advice.”

Mr Flynn said: “Lucent is well funded and able to provide the capital required. The council is investing its land assets.

“We will enhance to value of the asset. The development value of the sites identified is £200 million.”