Plans drawn up for multi-million pound revamp of business park in Peterborough

An aerial view of Lynch Wood Park in Peterborough.
An aerial view of Lynch Wood Park in Peterborough.
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Work is about to start on a multi-million pound revamp of a prominent business park in Peterborough.

The owners of the Lynch Wood Park, which is home to a range of well known companies employing a total of 1,800 people, say the extensive refurbishment will start in June.

The former Pearl Assurance building at the Lynch Wood Park, in Peterborough.

The former Pearl Assurance building at the Lynch Wood Park, in Peterborough.

The business park is owned by asset and property company, FI Real Estate Management.

They say the revamp will "transform the the former Pearl Assurance building into an holistic community for businesses with new amenities including a gym, restaurant, meeting rooms and conference facilities.

On-site activities will be developed to enable businesses to offer employees convenience and an aspirational work-life balance.

Community groups such as running clubs and a diary of events including film screenings and BBQs will also be provided.

David Thwaites, senior asset manager at FI Real Estate Management, said: "Lynch Wood Park is already an extremely impressive office building, set in picturesque surroundings and boasting a highly striking interior.

"Our investment will serve to complement the premium office space available with an enhanced amenity offer and the creation of social community for businesses and employees.

"We want the growing number of successful companies that call the development home to be able to truly thrive with the convenient facilities and business lifestyle on offer at Lynch Wood Park.”

Lynch Wood Park was built in 1992 and is home to insurance group Royal & Sun Alliance, charity Kidney Research UK, IT provider Tata Consultancy Service, global data and technology company eResearch Technology (ERT) and healthcare provider Coloplast. All occupiers agreed new leases at the end of 2017.

Just 50,000 sq ft of space now remains available at the three-storey premium office development.

The joint letting agents for Lynch Wood Park are Savills and Cushman & Wakefield.