Councillor Mohammed Jamil, Cabinet Member for Finance and Corporate Governance, has welcomed the news today (Tuesday 4 August 2026) that the sale of the unfinished hotel at Fletton Quays has been completed.
The council has been informed that Leisure & Co Hotel Ltd has acquired the hotel and will open the property as Hilton Garden Inn Peterborough in Summer 2027.
Managed by Leaf Hospitality, it will offer 160 guest rooms, a restaurant and bar, meeting facilities, fitness amenities and a ninth-floor rooftop terrace with views across the River Nene and Peterborough Cathedral.
The hotel is also expected to create around 60 local job opportunities, supporting Peterborough’s visitor economy and adding to the wider impact of the Fletton Quays regeneration scheme.
Councillor Jamil said: “This is such positive news for the city, and I wish the buyers the very best with their new venture.
“The sale of this asset is an important step towards resolving a long-standing issue and bringing this prominent riverside site back into productive use.
“This was an issue we inherited from the previous Conservative administration and my priority has always been to secure the best possible outcome for the city and our residents. We considered a number of different options with the administrators and selling the asset best protected the interests of taxpayers and supported the continued regeneration of this important area of the city.
“We now look forward to seeing the new owner bring forward their plans, complete the development and help realise the original ambition for a high-quality hotel that supports jobs, visitors and local growth.”
Paul Barrasford, Director, UK Regional Hotels, CBRE, which has provided the council with market advice to support the disposal and marketing of the site, said: “This hotel is a landmark development and will have a significant positive impact on the local community and the wider city of Peterborough. It will boost local business, drive tourism and support the council’s £120 million Fletton Quays regeneration scheme.
“Once complete, the hotel will bring jobs, commerce and investment to the area, as well as providing a high-quality hospitality and leisure venue for the community to enjoy. Having the opportunity to help orchestrate this deal, CBRE has played a vital role in delivering the original vision for Fletton Quays.”
Administrators, Teneo, has been in charge of the asset since the council took the company previously leading on the development, Fletton Quays Hotel Ltd, into administration in October 2024.
The council agreed to provide funding for the construction of the Fletton Quays Hilton Hotel in 2017, this was by way of a loan facility of up to £15m to the development company for the hotel.
Teneo marketed the site earlier this year and committed to ensuring that any sale of the site achieves best value, following Cabinet approval in September 2025.