Overview

• Peterborough City Council borrowed £15 million from the Public Works Loan Board in 2017 for a 160-room Hilton Garden Inn that has remained half-built since construction halted during the COVID-19 pandemic.
• Insolvency firm Tenea, appointed after the developer entered administration, has extended the hotel’s insolvency process until October 2026.
• An EY audit flagged a significant risk that the property’s value falls below the original investment and said an expected credit loss is under consideration.
• The exposed nine-storey shell has degraded over two years and become a roost for hundreds of pigeons, drawing criticism from residents and campaigners.
• The council, grappling with a £500 million debt and a £23 million budget gap, is set to consider a cabinet report outlining options to limit taxpayer losses.