Developers have just secured the green light to build a range of units on a 12 acres site fronting Broadway and the Eagle Business Park.
Construction of the new Enterprise Park is expected later this year and the new hub is forecast to create up to 325 jobs.
News of the go ahead for the project comes amid concern among business leaders that the Peterborough area is running short of land that is specifically earmarked for industrial use.
Peterborough City Council leader Councillor Wayne Fitzgerald has already vowed to look at reopening the council’s Local Plan, which sets out which sites can be used for employment development, in a bid to find more commercial plots.
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Commercial property agents Eddisons, incorporating Barker Storey Matthews, and Savills, which are instructed as joint sole agents for the new park, say they have already received a large number of inquiries from businesses interested in moving on to Enterprise Park.
They are confident a number of local businesses - and some from further afield - are poised to reserve units with the official launch today of Enterprise Park.
Richard Jones, director at Eddisons Peterborough, said: “Currently there is a severe shortage of available employment development land in the region causing a shortage of stock and potentially restricting local growth.
“We see this development coming at the right time to help fill some of the demand for freehold modern good specification warehousing.
“The developer, is also determined that high standards of build quality and landscaping are maintained on Enterprise Park – given its frontage and prominence on the edge of Yaxley village.
“The developer is now on site and first units will be available later this year and early next year.”
The two part development will offer units suitable for trade counter, light industrial, showroom or even leisure uses.
The first part will be a speculative scheme of detached, semi-detached and terraced industrial and warehouse units ranging from 1,870 to 7,674 sq ft and that will be offered for sale.
Units are of steel portal frame construction, to an eaves height of six metres, have office and toilet facilities, electric loading door, concrete loading and block paviour parking.
Secondly plots are available for companies wanting a more bespoke building.
Plots front Broadway and can be offered for warehousing, trade counter and leisure uses and will be available to buy with a design and build offer.
The developer will also consider building to lease if a long lease is taken and subject to covenant.
News of the go ahead for Enterprise Park comes in the wake of new figures from the Department of Work and Pensions that the employment rate in Peterborough has plunged over 12 months despite the Covid-19 pandemic.
The number of jobless people in Peterborough in November last year stood at 9,368 people - - the latest date for which the DWP has figures - a fall of 1,873.