Multi-million pound logistics park plan could create 150 jobs in Peterborough

Developer and investor the Firethorn Trust is looking to build a 500,000 sq ft logistics park at Kingston Park, in Flaxley Road, Hampton.

The move comes after the real estate investor acquired a 21 acre site from O&H Properties, based in Peterborough.

It is hoped the new industrial units on the planned park will be ready for use by the middle of next year.

It is the fourth industrial development proposal announced for Peterborough since last November and which together are expected to bring an estimated 3,500 to 4,000 jobs to the city over the next few years.

A spokeswoman for the trust said work would start immediately to submit a planning application to Peterborough City Council to develop the site, which sits next to an area occupied by online retailer Amazon, furniture giant IKEA and DART.

She said the £60 million development could create up to 150 jobs.

Peter Mather, Partner at Firethorn Trust, said: “Peterborough is one of the fastest growing cities in the UK and has developed into a significant regional commercial location due to its excellent road connectivity and strong labour supply.

“Our plans to develop a highly-specified logistics park are designed to boost investment within the region, as we look to meet increasing occupier demand for quality, modern and sustainable midbox spaces, as well as drive employment opportunities for the local community.

Mr Mather added: “2020 created unique challenges throughout the industrial sector and we are proud to starting the year on such a positive note by bolstering our rapidly growing logistics portfolio.”

The Firethorn Trust currently has a development portfolio of 2.15 million sq ft with the Kingston Park site becoming the trust’s fourth site with Northampton Cross in Milton Ham and Ascent Logistics Park in Leighton Buzzard and Link Logistics Park in Ellesmere Port.

During the latest acquisition, Firethorn Trust was advised by LSH and Stephenson Harwood while O&H Properties was represented by Savills and Mills & Reeve.

Peterborough MP Paul Bristow said: “The foundations of the Peterborough economy are strong.

“Despite the undoubted difficult times caused by the pandemic, people can see the potential of Peterborough.

“That’s why so many are coming companies are either coming to our city - or expanding here.

“The next few years should be full of promise and optimism.”

Last November plans were unveiled for a £55 million development at the former Mars Petcare site in Shrewsbury Avenue, Woodston, creating 100 plus jobs followed by proposals for a 200,000 sq ft development at Maskew Avenue creating ‘hundreds of jobs’.

Last month, Peterborough City Council gave the green light to an industrial development at Red Brick Farm, in Fengate, which is expected to create 3,000 jobs.

The development proposals come as new figures show the number of Universal Credit claimants is increasing at a rate above the national average.

In December last year, the claimant figure rose by 686 people to 26,229 for the four weeks to December 10 - a rate of increase of 2.7 per cent for the Peterborough local authority area. The national rate of increase was 2.2 per cent.

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