New hope for 'iconic' building to replace Peterborough's former TK Maxx store

The site of Peterborough’s former TK Maxx store could be transformed with the construction of an iconic building under the council’s vision for the city centre.

A marketing strategy for the now closed TK Maxx and New Look stores, on the corner of Bridge Street and Bourges Boulevard, could be drawn up in the near future.

Development chiefs at Peterborough City Centre say the site is at a gateway into the heart of the city and deserves to be marked with a special building.

And while the council says it is talking to a number of ‘interested parties,’ it is not planning to ‘rush’ any development.

Speaking to the Peterborough Telegraph, Adrian Chapman, the council’s executive director of place and economy. said: “We’ve had some interest in the TK Maxx/New Look building and we are talking to some people but we are also looking at other options, including a marketing strategy for it.

He said: “It is a potentially iconic site, so what we don’t want to see is just another box going up on there.

“It feels like it needs and deserves something a bit different and a bit more special.

Mr Chapman said: "It is a gateway into the city centre and we are really keen to get on with it but we want to get it right and so we are not rushing.

“I know it is a bit of a blight and we want it to be redeveloped soon but we also want to get it right, so we are taking time to think what’good’ would look like on that particular footprint.”

The council bought the TK Maxx/New Look building for £3,975,000 on December 15, 2020 with the intention of using it as the venue for a planned cultural and community hub called The Vine.

Those plans have been dropped with The Vine to be split across the Central Library and a new Food Hall at Fletton Quays.

In April 2023, it was revealed that a potential buyer had ambitious plans to create a 10 storey high landmark conference and banqueting centre with a rooftop terrace, restaurants and bar plus apartments on the site.