Green light for £48 million grant to create new rail station gateway into Peterborough

Peterborough has secured a £48 million grant that will transform the railway station and its surrounding area into a modern gateway into the city.

The cash injection will pave the way for a second entrance to a new look railway station along with retail and office development and enhanced travel links into the city.

Funding for the Station Quarter has been approved by officials at the Department for Levelling Up, Housing and Communities and is the largest Government grant to be secured by the city.

The total cost is expected to reach about £70 million with match funding expected from Peterborough City Council, Network Rail, train operator LNER, and commercial and residential development companies.

The proposed regeneration is likely to take about five years to complete.

Central to the project will be the creation of a state-of-the-art station gateway building with a new office park and surrounding retail facilities. The 170-year-old Great Northern Hotel will also be retained.

A key aspect will be a new western entrance to the station – creating a double-sided station – plus associated parking.

Currently, the only parking is east of the tracks and a double-sided station will allow for easy access for cyclists, pedestrians and cars to both east and west. This will also ease pressure on city centre roads.

Existing car parking areas will be consolidated and there will be the creation of community space.

It is envisaged the development will cut carbon emissions in the county by boosting rail travel and helping cut private vehicle use by its target of 20 per cent.

The scheme will help Peterborough attract more knowledge-intensive and high-level employment by taking advantage of the city’s rail links to London and other key cities in the UK.

Peterborough MP Paul Bristow said: “This is brilliant news for Peterborough.

"Nearly £50 million for our city to transform the Station Quarter.

“This is a game changer for the city – it will open up the Station Quarter as a gateway to our city centre, our Cathedral and the rest of our city.

"Peterborough is also the gateway for the East of England.

He added: “The Government is putting its money where its mouth is and investing in cities with potential.

"Peterborough’s potential is there for everyone to see.”

Levelling Up minister Dehenna Davison said: “This is a significant investment to improve transport connectivity for Peterborough residents.

“The Levelling Up Fund is to help local communities reach their full potential and that’s why I’m incredibly excited that the Government is funding the Peterborough Station upgrade.

She added: “I am grateful to Mr Bristow and Peterborough City Council for the energy they put into the bid and I look forward to working with them as we start delivering the project.”

Councillor Wayne Fitzgerald, leader of the city council, said: “This is fantastic news for Peterborough.

"The area is often the first impression visitors and commuters get when arriving here and these improvements will help to connect the railway station more directly to the city centre.

"The project has been talked about for a long time and we are thrilled we’ve now got the funding to make it happen.”