Peterborough in £35 million development - commercial mortgages

02 March 2007

Plans for a multi-million pound development have been outlined for Peterborough, under which new commercial retail and office spaces will be developed at Trowbridge.

Under proposals outlined by Parkbridge Developments £35 million will be spent on the construction of new commercial areas covering over 8,000 square feet. In addition to retail and office spaces a number of residential units will be constructed along with up to 240 parking spaces.

Parkbridge has been in negotiation with council officials over the proposed development for almost a year and a half. It is hoped that a regenerated site would attract new business to the area including those looking to obtain a commercial mortgage.

Nick Scott, Parkbridge Developments director, asserts that local community views will play a role in future regeneration plans.

"We look forward to sharing our ideas and gaining feedback and input from the local people to ensure that we create a high quality development," he told the Peterborough Evening Times.

Peterborough City Council is currently funding a £1.6 million regeneration scheme targeted at deprived areas.