Amid a subdued UK property market, the East Midlands city of Peterborough has been identified as one of the brightest residential growth prospects in the country.
“As an affordable location and well-connected city, it is clear to see that Peterborough has huge potential for growth across all sectors,” stated a recent report. “New stock is needed to meet growing demand.”
Combining a rising population of young, enterprising and well-educated professionals, high levels of investment from the local authority and major relocations from international corporations, Peterborough’s economic performance is likely to outstrip many rival cities.
“Our population will grow from around 200,000 to 235,000 by 2035,” predicts Peterborough City Council, which has approved important regeneration projects for development including a £160 million town centre project and the £120 million Fletton Quays riverside scheme.
Fletton Quays began construction in 2017 on a 6.4-hectare prime riverfront site on the River Nene, with views over historic Peterborough and close connections to the city’s shopping, commercial and leisure districts. The development will include a 160-bed hotel, dedicated wildlife area and new arts and cultural centre, part-funded by a £490,000 Arts Council England award.
Recent corporations locating distribution facilities in Peterborough include IKEA, Amazon and Debenhams, taking advantage of its excellent transport connections: trains to London Kings Cross take 46 minutes and it is close to major motorways.
GRE Assets is delighted to be involved in the development of the stunning Nene Wharf, comprising 128 new riverside apartments, with landscaped gardens, terraces and balconies.