Council takes 'next steps' to purchase unfinished hotel

Peterborough City Council said it would be working on the "next steps" to complete the purchase of the hotel

A council is in the process of taking the "next steps" to purchase an unfinished hotel that has so far cost nearly £17m.

Construction of the Hilton Hotel in Peterborough is part of a wider regeneration to the Fletton Quays area.

Councillors were previously asked whether to support a bid to buy the freehold of the hotel and reject a third-party offer which had already been submitted.

A report will go before the cabinet at Peterborough City Council on 16 July with an update.

The hotel has been in construction for several years but work was paused in 2020 after the developers went into administration.

A spokesperson for Peterborough City Council said: "Our credit bid submitted as part of the administration process for the Hilton Hotel has been accepted.

"We will now be working with the administrators on the next steps to be able to complete the purchase of the hotel."

The council said a report would go before the cabinet on 16 July with an update.