Combined Authority’s £48m ‘Levelling Up’ bid to Government for Peterborough Station Quarter
A Levelling Up Fund bid for around £48million for the first phase of redevelopment of the area around Peterborough Train Station – known as the Station Quarter – was submitted by the Combined Authority to the Government this week.
Peterborough City Council and Cambridgeshire & Peterborough Combined Authority collaborated on the bid for the Peterborough Station Enhancements and Connectivity Project, submitted on 1st August, and expect to hear back from the Department for Levelling Up, Housing and Communities (DLUHC) in Autumn 2022 whether it has been successful.
Mayor of Cambridgeshire & Peterborough, Dr Nik Johnson:
“The Combined Authority has worked closely on the bid with Peterborough City Council, which will drive the enterprise forward if the pitch wins through. Regenerating the Station Quarter would uplift not just the city but the whole of Cambridgeshire and beyond, helping take the east of England to a new level, and making Peterborough itself greener and ever more welcoming to visitors, investors, and businesses.”
If the bid does succeed, funding will be released by the Government to allow the Peterborough Station Enhancements and Connectivity project to move forward.
Additional match funding to bring the total funds up to around £65million is expected to come from Peterborough City Council, Network Rail and LNER, enabling future private investment in commercial and residential development as a further phase of the Station Quarter programme.
The project involves creating a new western entrance to the station with a car park – to create a double-sided station – with a new wider footbridge over the train lines. This will alleviate pressure on city centre roads, making it easier and safer to travel around the city by bicycle. Green areas with biodiversity, community spaces and better connections to the city centre will make it safer and more attractive for bikes and pedestrians.
The enhancement of Peterborough Train Station will improve rail passenger journeys and encourage more rail travel, which will have a positive economic impact on the city and regionally, as the city is already well connected to key areas of Eastern England and the rest of the UK. In addition, it will support Peterborough in attracting more knowledge-intensive and high-level employers through its transport links.
Councillor Wayne Fitzgerald, leader of Peterborough City Council, said: “This is once in a lifetime opportunity for our city centre. It will cut carbon emissions and make our city easier and safer to walk around, while stimulating business and providing economic benefit to our city – both during and after construction.”
Paul Bristow, MP for Peterborough, said: “Peterborough is the gateway to the East of England and the Station Quarter is the gateway to the city – It is vitally important that the Station Quarter and the station itself is fit for purpose.
“This is a chance to use this prime asset to bring jobs, retail and other visitors to our city. If we get this right, I can see new businesses and even another government hub coming to Peterborough.”
Stephen Hind, Head of Business Development at Network Rail, said: “This brilliant investment would allow us to deliver a revamped and revitalised entrance to Peterborough. The major transformation would unlock opportunities for the city to thrive economically, as well as recognising the need for a cleaner, greener transport network in the future.”
An LNER spokesperson said: “LNER is pleased to support this redevelopment bid as part of plans to transform and enhance Peterborough Station Quarter, bringing benefits for customers, the community and wider Cambridgeshire and Peterborough areas.”
If the decision from DLUHC is positive, an outline business case and planning application are likely to be submitted for the Peterborough Station Enhancements and Connectivity project next year. Construction work on the first phase could take place between 2024 and 2026, with wider development of the Station Quarter continuing up to 2028.