Peterborough Goods Shed sold as buyers ‘anxious to get going’
The City Council's cabinet approved the £300,000 sale this week
The buyers of a historic Peterborough railway goods shed are eager to begin its redevelopment, a meeting heard.
Peterborough City Council’s cabinet members agreed on August 25 to approve the sale of the Goods Shed at Fletton Quays to Brick and Bond Properties Ltd for £300,000.
The building, which currently sits empty, is set to be transformed into an independent food hall and entertainment venue with regular live music, comedy evenings, cultural events and seasonal markets.
At the cabinet meeting, members raised concerns about the possibility of the developers taking it in a different direction to the one previously agreed — but the council’s executive director of place and economy Adrian Chapman allayed their fears.
He said:
“The proposed purchasers are extremely motivated to deliver this.
“I don’t foresee there being any issues here with delivery, they are very anxious to get going.
“I think given the eventual sale of the Hilton, the amazing development behind us as we sit in this room, and the pace of growth across the city centre, I think that they can see the benefit and attraction of getting this away.”
Principal development surveyor at the council Chris Pike noted that while Brick and Bond was an inexperienced operator, the company had evidenced that it had more than enough money needed to complete the development and would bring in the right expertise to deliver it.
He added:
“Brick and Bond also have a loan agreement with the bank which has been signed to say if they need an extra amount of money, in the millions, here is some more money towards the project.”
The Goods Shed development is part of a number of projects planned for the Fletton Quays and Embankment area, with Cygnet Bridge construction underway, a new swimming pool and youth zone in the pipeline, and the sale of the Hilton hotel.
“This shows a real commitment to investing in our city and providing new and improved facilities for residents and visitors to enjoy,” Cllr Numan Ali Iqbal, cabinet member for growth and regeneration said.