Plans approved for new £12M commercial space at Lynch Wood Park

FI Real Estate Management (FIREM) has received planning approval to create a new £12m 59,000 sq ft commercial development, designed to serve the growing community of start-ups and expanding businesses in Peterborough.

The new development, which will support 125 full time equivalent jobs, will include 32 flexible commercial units across three courtyards, with unit sizes ranging from 603 sq ft to 3,120 sq ft for a variety of business uses. The planning outcome follows extensive consultation and engagement with the community and local stakeholders to create a development that provides enhanced employment space for the city.

FIREM is committing £5m direct investment through the construction project, which will be delivered by FI Construction. Building work will engage a number of local suppliers and subcontractors to ensure the project creates local opportunities for training and employment. The team will use Modern Methods of Construction to reduce construction time on site, minimise disruption throughout the building work while also reducing waste on site.

Designed to complement the wider business park, the new development will include extensive landscaping and the planting of 148 new native trees to enhance the local environment. The plans have paid particular attention to sustainability, and the development has a target ‘Very Good’ BREEAM rating to support Peterborough City Council’s pledge to make the city net zero carbon by 2030.

Sustainability features will include rain gardens, green roofs and a host of measures to encourage sustainable modes of transport, including EV charging, cycle storage and a Section 106 contribution to cycle network improvements. FIREM is also proposing to create a small allotment space as part of the development as well as working with a local school to create a wildlife pond.

Located within the grounds of Lynch Wood Business Park, the new commercial space will span 1.5 hectares in the North West corner of the park adjacent to the Grade II Listed Pearl Centre, which is also owned by FIREM.

The planning outcome adds to FIREM’s ongoing transformation of Lynch Wood Business Park, which has seen the developer invest in extensive health and wellbeing facilities at the Pearl Centre. FIREM has also engaged with the local community as part of its presence in Peterborough, with initiatives including a Biketober and Drive Safely scheme to encourage safe and sustainable travel, and work to support a range of local charities.

Elsewhere in the city, FIREM has also invested over £1m to transform Northminster House to create 28,000 sq ft of high quality office space in the city centre.

Tim Knowles, founder and Managing Director of FIREM, commented: “Our ongoing investment at Lynch Wood Business Park is a mark of our commitment to contributing to the economic development of Peterborough, and serving the needs of the city’s thriving business community. Plans for our new development have been designed with extensive consultation with the local community to ensure we deliver a high quality development that brings long-term economic benefit to the city.”