Developer looks to be lined up for The Vine food and drinks hall at Peterborough's Fletton Quays

Plans to create a food hall on the last development site at Peterborough’s Fletton Quays have taken a step forward.

It has been revealed that a developer has been lined up to buy the Victorian railway goods shed, on a 0.8 acres site by the River Nene.

The site is owned by the Peterborough Investment Partnership (PIP), a joint venture between Peterborough City Council and Peterborough Partnership Ltd, a subsidiary of investment specialists IAGH3.

But the PIP is being dissolved as the development of Fletton Quays comes to an end.

Councillor Wayne Fitzgerald, leader of the council, said: “We do have a developer who wants to take the project forward.

"But the ownership of the site is within the PIP and we untangling that but it will take time.”

The identity of the developer has not been disclosed.

The site is expected to become part of The Vine community hub – a project that has been awarded £12 million under the Government’s Towns Fund initiative.

The original vision for The Vine community and cultural hub was as a space for start-ups businesses in digital, creative and design sectors, meeting rooms and rehearsal studios, a learning resource centre and gallery space for artists and based in the former TKMaxx building in Bridge Street.

But after a developer expressed an interest in buying the TKMaxx building for a landmark conference and banqueting centre, plans for The Vine were rethought.

Now it will be a two-site project partly based at a revamped Central Library and at Fletton Quays.