Council-backed housing company has 'no plans' to develop Pleasure Fair Meadow car park - but is set to expand

Medesham Homes has “no plans” to develop Pleasure Fair Meadow car park, Peterborough City Council (PCC) documents say – but the house building company could play a bigger role in the city in future.

The company, which is a joint venture between the council and Cross Keys Homes, was set up to deliver affordable housing and owns the car park, but PCC maintains that it won’t necessarily be replaced by housing.

Medesham Homes, though, which has so far delivered 94 affordable homes in Peterborough, is set to expand.

It currently has just one part-time member of staff, but should have greater support in future after reviews of the council’s planning and highways services.

Council documents say that: “It is helpful to note that a full review and transformation of the planning service has recently been completed, and a review of our highways service is underway.

“CIPFA (Chartered Institute of Public Finance and Accountancy) noted that Medesham’s contribution should be able to be accelerated with the right level of support from both partners.”

CIPFA began a review of PCC’s joint ventures in 2022.

Company has accrued £16.5m assets since establishment in 2016/17

Medesham Homes accounts show that, in the year to March 2022, the company made a profit of £434k, up from £323k in the previous year, and has assets of £16.5m.

Its projects – in Midland Road, Belle Vue and Fishpool Drive and Crowland Road – have been entirely funded with Government right to buy receipts and grants from the Cambridgeshire and Peterborough Combined Authority (CPCA).

A further Medesham Homes project seeks to convert a former office block and disused pub, the Roundhead, at Bretton Court into flats.

The company was set up, PCC says, to “acquire sites that may be undesirable to other developers, including brownfield sites within the city such as disused office blocks” in order to provide affordable housing.

But Pleasure Fair Meadow car park remains in use, with people visiting Peterborough United’s Western Homes Stadium among its frequent users.

PCC has also previously confirmed that, if the site is redeveloped, it won’t definitely be for housing, despite being owned by Medesham Homes.

Options on the table include leisure facilities or student accommodation, councillors heard at a shareholder cabinet committee meeting in June.

The committee is due to meet again on Tuesday, 11th September, with an update report on Medesham Homes on the agenda.

The future of the car park remains uncertain.