WATCH as Angela Rayner gives the green light for funding for Peterborough’s ambitious £65 million Station Quarter regeneration plans

Deputy Prime Minister Angela Rayner has told the House of Commons that the Government will provide the £47.8 million needed to kickstart the city’s ambitious plans for its Station Quarter.

Although approval still has to be given for the business case for the plans, which was submitted to ministers several months ago, Ms Rayner said the Government was committed to providing the nearly £48 million.

Ms Rayner told MPs: “I can confirm that, subject to the business case approval, we will provide nearly £48 million of funding for a city centre quarter and a refurbished Eastern Station building.”

The Government funding, which was originally agreed under the previous government’s Levelling Up agenda, is expected to be supported by private sector investment bringing the total spend to £65 million for the first phase of the Station Quarter.

Peterborough MP Andrew Pakes said: “This is fantastic news for Peterborough.”

"It marks a huge milestone in Peterborough’s ongoing transformation and growth.

“This investment will deliver a new gateway to the city, improve connectivity, and unlock further opportunities for investment and development.

“I am delighted that the Deputy Prime Minister has today confirmed nearly £48 million of funding to bring our Station Quarter Regeneration plans to life.

“This announcement is a milestone in the city’s regeneration and realises the ambition of so many people to see investment and change come to our station area.

"After years of planning and perseverance, we’re finally turning talk into action.

“I want to thank everyone who worked with me to make this happen, Peterborough City Council, Network Rail, LNER, former Deputy Mayor Anna Smith, and our former MP and now Mayor.

"This success is a real testament to teamwork, determination, and belief in our city’s future.”

The Peterborough Station Quarter Steering Group is made up of members of the Combined Authority, Peterborough City Council, train operator LNER and Network Rail.

What does the Station Quarter plan include?

Plans for the Station Quarter involve creating a new western entrance and car park – to create a double-sided station – with the entrance off Thorpe Road.

The eastern station building will be refurbished and there will be a user-friendly approach to the station with a sweeping approach from the Queensgate roundabout.

There will be a new look station area, a new taxi drop off/ pick up point, cyclist friendly roads, footpaths, landscaping and planting.