New plans unveiled to convert vacant retail support units at Peterborough's Rivergate Arcade into flats

Project underlines trend for city centre living

By Paul Grinnell
Sunday, 10th July 2022, 6:00 am

New plans have been drawn up to convert first floor retail support units at Peterborough’s Riverside Arcade shopping centre into apartments.

The venture involves changing the use of about 13 upper storey units for use as flats.

Applications for a change of use of the properties have been submitted by commercial agents Savills on behalf of the applicant, The Bank of New York Mellon (International) Limited, of London.

New plans have been drawn up to convert ancillary retail units on the first floor of the Rivergate Arcade in Peterborough into flats.

The aim of the venture is to find a new use for what are currently empty ancillary retail units.

The proposals seek to turn the units into self-contained residential studio flats of various sizes between 39 square metres to 53 square metres for one or two occupants.

A spokesperson for the arcade owners has been contacted for a response.

Rivergate is also one of eight key development sites making up a £600 million transformation of Peterborough and is seen as providing an opportunity for a new gateway into the city centre and to the Embankment and Fletton Quays.

And as part of that change, the issue of creating new apartments with ground floor restaurant and retail uses has been a subject of discussions between the owners of the Riverside Arcade and the city council.

The proposed conversion is one of many developments in Peterborough changing city centre offices into apartments driven by changes in retail and the trend for home working, which means companies do need as much office space.

Figures released last year by the Local Government Association revealed that there had been 663 office-to-residential conversions in Peterborough during 2019 to 2020.

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