A riverside oasis of hundreds of high quality apartments, bars, a luxury hotel and offices could be built on a derelict part of Peterborough’s South Bank.
The £120 million Fletton Quays development has been put together by the Peterborough Investment Partnership (PIP) on 20 acres of prime riverfront development land between the River Nene and the Peterborough to March railway line.
The partnership is a joint venture between Peterborough City Council and the Lucent Strategic Land Fund to develop awkward sites in the city.
Fletton Quays is the first of a number of regeneration projects the partnership hopes to complete over the coming years.
A prominent feature are five multi-storey apartment blocks containing 265 high quality homes with various numbers of rooms and some with balconies and views across the River Nene.
The apartment blocks will be built partially on “stilts”, which will allow for residents’ car parking underneath and a one-in-100 years likelihood of flooding of a small part of the site.
In addition, there will be a 160-bed hotel plus two blocks of offices creating 175,000 square feet of office space. One of the blocks will replace Aqua House, which will be demolished.
Two listed railway sheds to the rear of the site will be refurbished and may be used to house restaurants, bars and other leisure ventures.
There will also be a multi-storey car park facing the railway.
One side of the car park will feature the 59-year-old Mitchells sculpture, which has been in storage for several years after being removed from Bridge House, on Town Bridge, before its demolition in 2012.
Developers say the multi-storey car park would be used by employers at the office blocks during the day and for residents and their guests during evenings and weekends.
The development, which is in outline form, also includes public green spaces with views across the river. There will be a dedicated wildlife area plus cycle and pedestrian links across the South Bank.
Pram Nyak, joint managing partner of the partnership, said the demolition of Aqua House would open up the views across to the cathedral from the Town Bridge area. It is expected hundreds of jobs will be created during the construction work and afterwards.
The plans are currently in outline form and it is hoped that, after consultations, a planning application will be made in September.
The partnership hopes to start signing up developers to carry out the works at the start of the new year.
Mr Nyak said: “It could be that this development will be completed within three to five years although I hope it would be sooner rather than later.”
He added: “The development of Fletton Quays is key to the overall strategy for improving and revitalising Peterborough.”
North West Cambridgeshire MP Shailesh Vara said “This project has been a long time coming. It will provide much needed housing close to Peterborough city centre and create jobs, which is excellent news for the local economy. It is also welcome that key aspects of Peterborough’s heritage, such as the old railway buildings on-site, are being given a modern role and impressive views of the Cathedral from the bridge on London Road will be enhanced by the profile of the planned buildings.”
The plans will be shown at public exhibitions on August 12 and August 13 at The Key Theatre, Embankment Road, from 2pm to 7.30pm. People can call 0800 0126994 with queries or email email@example.com.
How PIP works
The Peterborough Investment Partnership was created at the start of the year between Peterborough City Council and Lucent.
The council has not put any money into PIP.
The two partners have specific responsibilities. The council invests its surplus land and shares its knowledge of the needs of its communities, while Lucent invests money and the professional skills to secure planning permission and liaises with potential developers and purchasers for individual sites. Lucent also has the commercial expertise and existing relationships with developers and investors to take potential schemes through the planning process.