Government to give £48m to Peterborough's new station quarter
The government has announced it will put almost £48m of funding towards helping regenerate an area around a city's railway station. On 13 May the government approved plans that would see a station quarter with a new railway station entrance, pedestrianised square and multi-storey car park built in Peterborough. Andrew Pakes, the Labour MP for Peterborough, asked Deputy Prime Minister Angela Rayner if places such as the city, which he believed were "forgotten", would be at the top of the government's agenda. Rayner confirmed the government would provide "nearly £48m" of funding for the new city centre quarter.
A full business case for the project was submitted to the Labour government in March.
When speaking in Parliament on Wednesday, Pakes said the government had already backed the city by supporting other projects in the Spending Review, such as a new swimming pool and sports quarter. He said: "That commitment has the power to turn years of campaigning into a reality. "That is not all: the government have also recently approved the business case for our new station and have given us new police. Does the deputy prime minister agree that this is just the start and that places like Peterborough that were forgotten for too long by the Conservatives are now at the top of this Labour government's agenda" In response, Rayner said funding from Chancellor Rachel Reeves would "accelerate" projects in the city. After the funding confirmation, Pakes said: "Today's announcement is a milestone in the city's regeneration and makes real the ambition of so many people to see investment and change come to station area. "After years of talking about this major project, we will soon be able to get going."
During the chancellor's Spending Review, it was announced that funding would be given to Peterborough City Council to develop plans for a sports quarter and pool. The sports quarter would form part of the Anglian Ruskin University campus in the city. The city has been left without a swimming pool since the regional pool was forced to shut after reinforced autoclaved aerated concrete was discovered in September 2023. The rest of the funding for the station quarter will come from Cambridgeshire and Peterborough Combined Authority, Peterborough City Council, LNER, Network Rail and other partners.
The first phase of the works would see the creation of a new pedestrian and cycling route between the station and city centre and would replace the Cowgate underpass. The wider project would see a new western entrance to the station and multi-storey car park with refurbished station buildings to the east and places spaces for people to socialise. Previously it was estimated construction could start within the next year with further developments expected to continue up to 2028.
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