PLANS TO REDEVELOP THE DERELICT PART OF PETERBOROUGH’S SOUTH BANK HAVE TAKEN A MAJOR STEP FORWARD WITH PROPOSALS FOR A £120M INVESTMENT. THE FLETTON QUAYS SCHEME INCLUDES HUNDREDS OF NEW HOMES, OFFICE SPACE AND A LUXURY HOTEL. The Peterborough Investment Partnership (PIP) has announced it will submit an outline planning application for the site in September. The proposed development will deliver about 265 high-quality homes, up to 175,000 sq ft of office space and 160-bed hotel on the banks of the River Nene in the centre of Peterborough. The plans also include restaurants, leisure and retail opportunities. PIP is a joint venture partnership between Lucent Strategic Land Fund (Lucent Group) and Peterborough City Council. It was established to enable the development of surplus land in the council’s ownership. Managing partner Pram Nayak said: “The establishment of PIP represents real commitment to the future of Peterborough. The development of Fletton Quays is key to the overall strategy for improving and revitalising Peterborough.