Mayor's View: Putting investment in Peterborough centre stage

To regenerate Peterborough, we need investment. And to get investment, we need to get in front of the right people and demonstrate its potential, its ambition, and what makes it worth backing, writes Combined Authority Mayor Paul Bristow. 

That's one of the most important jobs I have as Mayor. Not just delivering on the ground, but connecting with people who can help make Peterborough's transformation happen. That’s Government ministers, developers, investors, businesses, and telling them why this city is the right place to put their money. 

That's what took me to Leeds this week. The UK's largest property and investment conference, UKREiiF, brought together thousands of decision-makers and investors in one place, all looking for the next opportunity. My job was to make sure Peterborough was one of them, and I did that in partnership with the city council and Government agency Homes England. When there’s a united team, pushing the potential of this city, it makes Peterborough more investible.  

So what was the pitch? 

I told them Peterborough is one of the UK's fastest growing cities. That it sits as part of the Oxford-Cambridge Growth Corridor and the UK Innovation Corridor to London. That it has a young, growing population, excellent rail connections, and is crying out for development. 

I told them about Combined Authority-funded projects like Peterborough Station Quarter, the £65 million scheme to transform the area around the station, creating space for business, jobs, new homes and delivering a better connection between the station and city centre.  

I told them about ARU Peterborough, where young people from PE postcodes are now graduating with degrees in subjects local employers actually need. And I told them about the opportunity of our city centre, with 206 hectares of land available to redevelop, with new homes and tens of thousands of square metres of commercial space to be delivered, uniting the Station Quarter, the Embankment and the city centre into an exciting regeneration vision. 

And I told them that this time, the tools to deliver are being put in place. 

Our Local Growth Plan identifies Peterborough as one of four Opportunity Zones for the region, focusing investment in infrastructure, and supporting our strong sectors like advanced manufacturing and agri-tech and agri-food technology.  

And now I’m pushing for a Mayoral Development Corporation, where a similar model helped shape Peterborough's growth in the 1960s, 70s and 80s. I've set out my intention to establish one, working with the City Council and Government. It would give us the tools to unlock stalled sites, coordinate infrastructure, and drive regeneration at a pace and scale the city hasn't seen in a generation. 

And while consistent, ambitious championing of Peterborough’s future is vital, I’m also making sure we keep delivering now. Last week’s breakthrough that we have an agreement with the city council on free parking is good news. Four city centre car parks, all free after 3pm, will, I hope, boost our high streets – it's coming.  

UKREiiF is one event. But the message I took there is one I'll keep taking wherever investors and decision-makers gather – that Peterborough is ready for regeneration and growth. That’s one of my jobs as Mayor and I’m proud to help champion this great city’s future.