Any redevelopment of the derelict North Westgate site could feature a concert hall, according to the leader of Peterborough City Council.
Councillor John Holdich said he wants to see a leisure facility at the site, but has ruled out it being a cinema with an Odeon set to open at nearby Queensgate Shopping Centre.
The council is investing £15 million to kick-start the regeneration of North Westgate, with the money used to buy and land property at the site to allow for development to take place.
Cllr Holdich said: “Peterborough lacks a concert hall but it has to be financially viable. With all the different surveys we’ve had done for Peterborough a concert hall does not stack up, but if you get one near the station and bus station it could be a different story. But we need to look at that.”
The £15 million of capital funding is included in the council’s 2017/18 budget plans, with interest of £45,000 to be paid every year to borrow the money.