Peter Breach, chairman of Hawksworth Securities, said he was just weeks away from submitting a full planning application to Peterborough City Council for a £150million redevelopment of the 4.6 hectare site.
Mr Breach has been involved in intense pre-bid talks with city planners for a few months after the Covid-19 pandemic, as he seeks to reshape plans he first proposed a while ago four years.
He said: “The pandemic forced us to start over with this app.
“We have put in several thousand hours of work and I believe we are only weeks away from filing a full application.
He said: “Among the differences will be a higher concentration of residential accommodation.
“The planned hotel has been moved closer to the level crossing near the Waitrose store on Boulevard Bourges.
“There are changes in retail and leisure, restaurant and cafe offerings and there are more open public spaces
“The retail units will be aimed at small businesses rather than chain stores.
“We are looking at gymnasiums, internet cafes and that sort of thing on the ground floor of the residential units.
“The Brewery Tap pub is secure and there will be open space around Westgate Church.
Mr Breach added: ‘I think we’re closer than ever to getting this off the ground.
The development is being carried out in conjunction with Peterborough City Council who have earmarked £15million for the purchase of properties in North Westgate to enable the development to take place.
Mr Breach said negotiations were still ongoing with some landlords.
Approval in principle for the development of North Westgate was granted by Peterborough City Council four years ago, but aspirations to redevelop the land have abounded since 1971, but to no avail.
The site was even the subject of a battle in the High Court when Mr Beach unsuccessfully tried to overturn City Council’s approval of a cinema development in Queensgate Shopping Centre, which adjoins the North site Westgate. Mr Beach claimed the decision would dash his own hopes of including a cinema in his development plans.
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