£65m station development 'could create 4,000 jobs'

A report says plans to develop the area around Peterborough station could benefit the wider community

A £65m project to redevelop the area around a city's railway station could create 4,000 jobs and 700 homes, according to a masterplan.

The 152-page document details how a revamp of Peterborough's railway station and the surrounding area could benefit the city.

Plans include the refurbishment of the current entrance, a new western entrance and a multi-storey car park.

The document says the project has the ingredients to help the city "flourish".

The station quarter project is also expected to attract new businesses and housing developments as the wider area becomes a "welcoming entrance" to Peterborough.

The revamped station itself will reduce congestion both in the building and on surrounding roads, the masterplan says, as passengers will be able to enter from both sides.

Beyond that, the wider area could become a "new characterful city quarter for the residents of Peterborough", with just over a hectare of new public land. 

New office and commercial space around the station could also boost productivity, it continues, and strengthen the city’s links to wealthier cities including the capital.

"With predicted population growth, excellent positioning (a 50 minute commute to London King’s Cross), and some of the most affordable land and property in the country, [the city] has the potential to flourish," the document says.

In turn this could create "higher value jobs" in Peterborough, “improving life chances of those in neighbouring deprived communities".

A second entrance will be created at the station

Encouraging public transport use as well as improving walking and cycling links could also have a knock on effect on health and wellness, the masterplan suggests.

The core project, running from 2023-27, is a joint venture between Peterborough City Council (PCC), the Cambridgeshire and Peterborough Combined Authority (CPCA), train operator LNER and Network Rail.

The masterplan also suggests the project can "complement" multiple other large-scale projects including the Fletton Quays riverside development, Peterborough’s new university, the Queensgate shopping centre extension and the new Hilton Garden Inn.

Taken together, these projects aim to "significantly raise the quality of facilities in Peterborough and attract talent to the region", it says.

On the flip side, there is likely to be "significant construction-phase noise impacts" on nearby properties as well as dust and a possible short-term change in air quality.

The masterplan will be discussed by CPCA councillors in coming weeks.