Launch of Peterborough property investment scheme

A property investment scheme has been launched in Peterborough to generate funding for regeneration projects. The city council has used an £850,000 grant to buy two offices at Peterborough Business Park so that it can channel rental income into renewal schemes. The council said the investment will earn around £50,000 a year for other projects. The initiative, funded through the East of England Development Agency's single regeneration budget, is likely to be extended to make more efficient use of other government and EU grants.

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