Peterborough City Council vows it's committed to protecting £17 million investment in Hilton Garden Inn

Peterborough City Council has underlined its commitment to protecting its £17 million investment in the city’s unfinished Hilton Garden Inn.

The vow comes as the local authority continues work to secure full ownership of the nine storey building on the banks of the River Nene at Fletton Quays.

Specialists are currently carrying out a number of surveys as the council looks to take full ownership of the hotel from the administrator Teneo.

Once the council has acquired full ownership of the building it is expected to select a contractor partner to complete the development of the 160-bedroom hotel, which is expected to be the flagship building on the regenerated Fletton Quays site.

A council spokesperson said: “We remain committed to progressing the scheme whilst ensuring that the approach adopted protects the investment the council has already made, and the completion of the scheme ensures best value for the residents of Peterborough.

“The work required to secure the acquisition of the hotel is being progressed as planned.

She added: “A range of surveys and due diligence work has commenced and is currently in progress.

“This will support the completion of the acquisition of the hotel in the near future, whilst further detailed work to conclude the design, procurement and construction activities continues.”

The building has been standing unfinished since October 2023 when the council took the then developer into administration after a period in which no construction work had taken place.

The council had provided a £15 million loan in 2017 to the developer to get work under way. The amount owed to the council is now reckoned to be £17 million.

Moves to sell the uncompleted building were scuppered last year after a preferred bidder withdrew at the last minute, leaving the council with no choice but to take on the task of overseeing the completion of the hotel.

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