Thursday February 02, 2023
ASSET Earning Power Groups have issued the following statement on Thursday February 2, 2023:

AEPG (Asset Earning Power Groups) is delighted to confirm it will be submitting an Outline Planning application for a significant leisure development, alongside new homes, open space sports pitches, a school and other facilities.

It follows the recent public consultation, for which AEPG would like to express thanks to all those who participated.

In the short term all events between now and July 1 will run as normal, to be followed by the pausing of the arena for events in the short to medium term. As previously confirmed, the Peterborough Panthers speedway team can continue to race on-site through the 2023 season.

In the future when the leisure site - known as Cultura - becomes a regional destination for high-quality entertainment, dining and live entertainment an additional 500 jobs will be created.

The news represents the next step in AEPG’s continued dedication to the regeneration of Peterborough as a sustainable, enjoyable place to live, study and work.

The vision for the site remains one of a connected, holistic environment where families of all generations and cultures can meet to enjoy live music, displays, activities and good food together.

For more information go to www.aepguk.com, email developments@aepguk.com, or go to the AEPG Facebook page.

Background notes:

A five-month PPA (Planning Performance Agreement) has seen AEPG working with Peterborough City Council to identify the strongest possible application for the site, with a plan likely to be submitted in the first quarter of 2023. A three-week public consultation was held last month.

Last year AEPG announced it had entered into a land promotion agreement with the East of England Agricultural Society to enhance the site with a leisure-led mixed use development.

The Peterborough Panthers will continue to race on-site until the end of the 2023 season, and APEG will continue to support them during this time.

Much of the brownfield site is unused throughout the year, with a handful of outdoor events taking place.

2023 Truckfest, MCN, Motorhomes, Plantworx, and Antiques will all go ahead on the site.

AEPG supports clients of such outdoor events in finding new homes.

Peterborough is looking forward to considerable positive change over the next 5-10 years, with a new purpose-built university opening soon, the council’s City Plan and Cultural Strategy both in effect, and a bid for City of Culture scheduled for 2029.