Bride Hall Developments selected to kick start £120m regeneration project in Peterborough

Hard on the heels of the success of the outline planning application for Fletton Quays on Peterborough’s South Bank, Peterborough Investment Partnership (PIP) has agreed the sale of one of scheme’s main plots to Nigel Desmond’s Bride Hall Developments, one of the UK’s leading development companies. Bride Hall will deliver a high quality c.9,000sqm office and ancillary car park, which will include the refurbishment of a Grade II Listed train shed. This is the proposed location for the Council’s new offices.Artists Impression - view towards Peterborough Cathedral from London Road Town Bridge


Just before Christmas, Fletton Quays was the latest major regeneration project to be given the green light in the city, with Peterborough City Council’s Planning Committee giving unanimous approval to plans to redevelop 20 acres (8 Ha) of derelict city centre brownfield land just south of the River Nene.


Nigel Desmond commented “A detailed planning application is now being progressed and our aim is to deliver the completed building in July 2018”.

 

kick start £120m regeneration project

 

Pram Nayak, Joint Managing Partner of PIP, said, “We are thrilled to be working with Bride Hall. To have a developer of their experience commit to this scheme and to Peterborough is a significant step forward and guarantees that we can actually deliver the regeneration of the South Bank.”


The redevelopment of Fletton Quays will help to bring the Peterborough riverfront to life and has been designed to make the most of the outstanding views across the river towards the city’s cathedral. It will include 280 high-quality apartments, providing bespoke city centre living opportunities, the creation of a new 160 bed hotel, as well as complementary restaurants, leisure and retail facilities. The plans also include approximately 16,000 square metres of prime office space, and the refurbishment of two listed and currently derelict 19th Century rail sheds, which will be brought back to life around a central plaza, and will incorporate both office accommodation and community facilities. 

 

kick start £120m regeneration project

 

Peterborough Investment Partnership (PIP), who made the outline application for the whole scheme, is a joint venture between Peterborough City Council and Lucent Strategic Land Fund. The JV brings together both the land ownership and commercial expertise required to regenerate viable regeneration, and is PIP’s first development. PIP aims to help support the sustained growth and development of local communities across Peterborough by regenerating difficult sites and creating new jobs, retail, housing and leisure facilities.

Leader of the Council, John Holdich OBE, has openly praised PIP’s successful outline application and subsequent sale of the first plot for development: “This is great news for Peterborough. We continue to be one of the UK’s fastest growing cities and the Fletton Quays development will provide further new investment, job opportunities and growth as well as transforming this derelict site.

The City Council has wanted to renovate the Fletton Quays site for at least 30 years. However, the complications with the ownership of the land and lack of funding have prevented earlier efforts. Now, we really will be seeing the transformation of the site.”

Harvey Spack Field represented Bride Hall on funding Arrow Commercial represented Peterborough Investment Partnership

http://www.peterboroughinvestmentpartnership.com/ 

 

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