UK Government Approves £48m Peterborough Station Quarter Regeneration

The regeneration of Peterborough railway station and its surrounding area, known as the Station Quarter, has received government approval for its Full Business Case, unlocking £47.8 million in funding to begin construction on the first phase, 'City Link,' later this autumn. This initial phase will replace the existing Cowgate underpass with a safer, more direct pedestrian and cyclist route between the station and the city centre. The broader £65 million project, backed by the Combined Authority, Peterborough City Council, LNER, and Network Rail, also includes a new western station entrance, a multi-storey car park, refurbished station buildings, improved public spaces, and flood risk reduction measures. Future development phases aim to unlock land for new homes, jobs, and commercial uses, transforming the station area into a vibrant gateway that enhances connectivity and economic growth. The project has been described by Mayor Paul Bristow and Councillor Nick Thulbourn as a generational opportunity to revitalize Peterborough, with construction expected to start before the end of 2025, pending the Government’s Comprehensive Spending Review. The total funding pool includes contributions from government, Network Rail, and Peterborough City Council through its Towns Fund allocation.