Developer of Peterborough's former Beales store to pay £198,000 plus to community costs

The developer behind a £22 million venture to create 125 apartments in an historic Peterborough building is to pay more than £198,000 towards community causes.

The figures are contained in a new financial statement that developer Panther (VAT) Properties was required to provide before Peterborough City Council would sign off the approval for the development of the Victorian buildings in Westgate, including the former Beales store, which was granted by councillors in July.

It shows that Panther (VAT) Properties have to pay a total of £198,817.66 to the council for a variety of measures ranging from health provision to open space contributions and the installation of two electric vehicle charging points.

The payments are broken down into five amounts.

They include £75,126 towards the increase in appointments and demand for services at the Thomas Walker Medical Centre or the Westgate branch surgery, £14,850 towards the costs of ‘additional ambulance infrastructure’, £87,789 as a contribution to the open space and a further £19,752.66 for the maintenance of the open space. There is also £1,300 to pay for electric vehicle charging points in two parking bays in Park Road with the developer also responsible for their installation.

The developer won a 17 month battle in July to secure approval for its flats and commercial units plans for Westgate House.

There were 300 public objections with a lot focused around the development’s impact on the nearby Ostrich Inn, in North Street.

But as well as the financial payments the developer has also been set a list of 47 construction conditions by council officers that must be adhered to before and during building work.

The plans involve converting the Victorian buildings in Westgate into homes and work spaces with a cafe on the ground floor.

A number of the apartments will be located in a purpose-built four storey building that will wrap around Westgate and North Street. The remainder of the apartments will be in a new six storey building.

A timetable for the development has not been set out.

Jack Bispham, joint head of property for the developer, said the company would initially focus on getting the Section 106 documented with the council and that there were a number of conditions that needed to be fulfilled before work could begin.”