Rallying call to investors to back £600 million transformation of Peterborough

Local and national politicians and civic officials lined up to extol the city’s abundance of economic assets during a two hour online conference for investors and developers.

The goal was to inspire financiers, entrepreneurs and developers to dig deep and invest in the city’s eight key development sites that make up the city’s regeneration masterplan.

It is hoped a £43 million development of the Station Quarter will help kick start the regeneration at North Westgate, Northminster, Rivergate, the University, Embankment, Middleholme and Fletton Quay.

Combined Authority Mayor James Palmer told about 90 guests: “Peterborough is at its greatest and most successful period ever.

“Peterborough is the catalyst for the levelling up of the area.”

The conference, which was staged jointly by Peterborough City Council and the city economic development company Opportunity Peterborough, also heard a plea from Peterborough MP Paul Bristow for investors to get involved.

He said: “This is a vision for Peterborough for the next 20 or 30 years.

“This vision is real. This is a confident city, a connected city, a working city and safe, clean and a happy city.

“The Government has seen the potential in Peterborough and has awarded a £14.6 million grant for a research super hub here - just about the largest individual grant in the country.

“I hope as many of you get on board and share this vision as possible. The future of Peterborough is bright.”

North West Cambridgeshire MP Shailesh Vara said: “It is significant that Peterborough has a fantastic story to tell about a track record of achievement. We can build on this - we are not starting anew.”

Mr Vara highlighted some of the greater Peterborough area’s assets including its location, its transport links, its working population, the strength and diversity of its 26,000 businesses and its affordable housing.

He said: “This really is a great place to come. We don’t have to be shy or timid, We can say we have a proud record, these wonderful statistics and big name businesses and we should not be reluctant to talk about them.”

Council leader John Holdich said: “These are the most ambitious development plans we’ve had for decades.”

OP chief executive Tom Hennessy said: “We are very excited about the opportunities all these sites will create.

“The time is now to drive forward with these opportunities and I’d encourage everyone interested to get involved and contact us.

“I hope this will be the first of many such events.”

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