Described as England’s fastest growing city by a recent McKinsey report, Peterborough is considered one of the UK’s regeneration hotspots for 2020 with significant investment on the way.
UK property investment specialists, GRE Assets, are playing a leading role in the regeneration of Peterborough with their latest development, Nene Wharf Apartments, part of the second phase of a £120 million riverside scheme. It will encompass 128 high-quality apartments overlooking the River Nene, situated alongside a hotel, commercial space, an arts and culture hub and the relocated civic centre as part of the wider project.
Michael El-Kassir, Managing Director of GRE Assets, said:
“Regeneration is changing the face of Peterborough and as a company we knew we wanted to be part of the transformation. With £280 million of planned development within walking distance, Nene Wharf seeks to create a new riverside community that shapes the future of the city.
“We pride ourselves on finding the best investment opportunities for our clients. GRE Assets has enjoyed great success in other regional cities undergoing regeneration, including Brighton, Reading and Manchester, and we very much expect Peterborough to be our next success story.”
John Holdich, Leader of Peterborough City Council, said:
“As one of the UK’s fastest growing cities, Peterborough is undergoing significant change and regeneration to create an even better city for residents, businesses and visitors. Developments like Nene Wharf are playing an important role in this regeneration, creating a new residential community overlooking the River Nene. Peterborough’s strategic location with great road and rail links, its emergence as a smart city, the variety of commercial space and our ambitions for the future make it a great place to invest.”
Situated in the Oxford-Cambridge Arc, only 46 minutes from London by train, Peterborough offers its residents and businesses excellent connectivity. Work on the £43 million refurbishment of the city’s train station is predicted to start in the coming months, which will transform the existing station alongside new commercial space and infrastructure improvements. Network Rail has also announced that more Azuma trains will soon be running to London’s Kings Cross offering additional seats and a faster, more reliable service.
Plans for a new university in Peterborough, focused largely on business and entrepreneurship, are also progressing. With 41% of the city’s residents under the age of 29 and 10,000 existing students, these exciting proposals will help support skills growth amongst Peterborough’s young demographic and eventually grow the student population by 15,000.
A growing retail and leisure offering is clear from investment projects across the city, including the £160 million city centre scheme that will bring new shopping facilities and restaurants to the city centre. Elsewhere, Inflata Nation Peterbrough, a 14,000 sq. ft indoor inflatable park, opened its doors in January and a long-awaited sports centre was recently given the green light.