English Partnerships plans to sell 50 acres (20.23ha) of development land in Peterborough.
EP this week freed up 100 acres of developable land in the area by promising £1m to protect it from flooding.
The government agency now plans to sell half the land, which lies next to the Cambridgeshire Fens in an area known as Eastern Industry.
The remainder is privately owned and the entire site is zoned for employment use.
EP agreed the plan in partnership with Peterborough city council and the Environment Agency.
Without the flood protections, the EA would have blocked any planning applications for the land.
“Without the level of support that English Partnerships has been able to give by putting up the cash, the whole area was blighted, because it couldn’t be developed.
The Environment Agency would have objected to any planning permission because the existing network of land drains was not working properly,” said EP’s senior regeneration manager Mike Evans.
Earlier this year, deputy prime minister John Prescott announced plans to expand the London-Stansted-Cambridge growth area to include Peterborough, as part of the government’s Communities Plan.
EP is marketing sites of 10-12 acres for around £100,000-£125,000 per acre through Lambert Smith Hampton.
References: EGi News 13/04/04
