Work under way to achieve sale of Peterborough’s unfinished Hilton Garden Inn

Peterborough City Council offices and representatives of administrators Teneo have been meeting this week to decide on a buyer for the nine-storey building at Fletton Quays.

The move comes after the deadline passed on Friday for the submission of bids for the 160-bedroom hotel.

However, representatives of the council and Teneo refused to say what progress had been made.

A council spokesperson said: “Council officers regularly meet with commercial agents CBRE and the administrators and we will meet with them during the week commencing January 19 to discuss bids received.

"These meetings will be commercially confidential.”

A spokesperson for Teneo said the company would not be commenting.”

The council is seeking to recover as much as possible of a £15 million loan it made to the developer in 2017.

The council took the developer into administration in 2023 after months in which no construction work took place after the comp[any ran out of money.

Hilton Garden Inn crisis timeline:

September 25, 2017: A two year £15 million loan advanced for hotel with first drawdown in May 2020. (Pay back due April 2022) The loan was agreed for Norlin Hotels Holdings. A council reports states the hotel is expected to be completed in 2019.

October 2018: Councillors voice alarm as it’s revealed ownership of Fletton Quays Hotel has switched from Norlin to Propiteer Hotels. The loan to be paid out over 48 months from the time of first payment to Propiteer. The hotel is now due to be completed in 2020.

December 2019: Start of Covid-10 pandemic in UK

March 2020: UK goes into lockdown

May 2020: Construction work is due to start but cannot because of lockdown

Mid-July 2020: Construction staff on site. Completion of hotel is expected by November 2022.

March 2022: City council agrees FIRST extension for loan with term extended to 31st March 2023. Developer says it had not been possible to start work as planned.

April 2022: Topping out ceremony at Hilton Garden Inn. Hilton Hotels managing director says he expects hotel to be open by January.

February 2023: Website bookings being taken from July 17.

March 2023: Appointment of a head chef and a food and drinks manager is announced. Website bookings being taken from December 17, 2023.

March 13, 2023: Council agrees SECOND extension to loan taking it to the end of 2023.

May 2023: Work on site slowed and then stopped

July 2023: Website bookings now being taken from July 2024.

October 17: 2023: Peterborough City Council announces it has taken developer into administration.

March 2024: Councillors told council has earmarked £10 million in case further investment needed in hotel’s completion. Says if council takes control it would then have the option of selling the hotel after three to five years.

May 22, 2024: Council announces it is to seek approval from extraordinary cabinet meeting on May 30 to submit credit bid to assume ownership of hotel.

October 2024: Administrator Teneo seeks a year long extension to administration period.

January 9, 2025: Sale of hotel fails as would-be purchaser pulls out at 11th hour

September 8, 2025: Spokesperson for Hilton Hotels says the company is still committed to operating at the Fletton Quays building when completed

September 26, 2025: Council leader Cllr Shabina Qayyum says needs of residents must be prioritised over ‘vanity project’ Hilton Garden Inn

September 30, 2025: New report reveals Hilton Garden Inn suffers from pigeon infestation and water damage and was a huge cost to Council Tax payers.

October 2, 2025: Council’s ruling cabinet to be asked to approve marketing and sale of uncompleted Hilton Garden Inn to highest bidder

October 20, 2025: Council Scrutiny Committee agrees to carry on with sale of the hotel.

November 11, 2025: Hilton Garden Inn official goes up for sale. Agents warn buyers will need to spend £14 million to complete building.

January 16, 2026: Deadline for bids to buy the Hilton Garden Inn.