Plans to create an attractive gateway to the city centre by transforming two under-used car parks as part of a comprehensive regeneration scheme have moved a step closer.
At a cabinet meeting held at Peterborough Town Hall on Monday 16 October, members agreed to the disposal of the Dickens Street and Wellington Street car parks.
The meeting heard that a city-wide car parking study identified that the car parks are currently not well used and are surplus assets.
With both sites allocated for mixed use development in the council’s Local Plan, the authority will now take all necessary steps to sell the car parks, with a view to a delivering a regeneration scheme bringing widescale benefits to the area.
Councillor Wayne Fitzgerald, Leader of Peterborough City Council said: “Making Peterborough an even better place to live, work and play is one of our top priorities and we will actively work to regenerate areas of the city where possible. Both these car parks are under-used sites which are currently unattractive but have the potential to be dramatically enhanced.
“The scheme proposed will deliver social and environmental benefits for new and existing communities in the form of new development, employment and new homes creating an attractive gateway to the city centre.
"We are also looking at longer-term car parking provision in the city and options to build new ones as and when they are needed and in the right locations."
The current owner of part of the Dickens Street car park site has formed a consortium with a new proposal for a comprehensive regeneration of the area which also incorporates the Wellington Street site. The proposal includes residential and retail uses.
The proposed development will also deliver financial benefits to the council in terms of business rates, council tax and a significant capital receipt from the surplus asset.
For more information, you can read the agenda from today’s Cabinet meeting here.