Former Barclays Bank site moves to next stage of regeneration, as Council agrees sale
Fenland District Council has agreed to progress the sale of the former Barclays Bank site in March, marking a key milestone in the town's regeneration programme.
At a Cabinet meeting on Monday 23 March, Members confirmed their preferred bidder for the Broad Street site and agreed to proceed to legal contract stage.
A report before the meeting said the Council had received four expressions of interest in the site, with two confirmed offers received by last month's deadline.
The winning bid was selected on the basis their offer met best value requirements, but further details cannot be released at this stage as completion of the sale is subject to agreement of final terms and remains commercially sensitive.
To ensure timely redevelopment and avoid land banking, the successful purchaser will be required to submit a full planning application within six months of completion and begin work within six months of gaining planning consent.
While final uses for the site will be determined through the planning process, early indications suggest interest in a mixed-use scheme, with retail at ground level and flats above.
The disposal of the site forms part of the wider March regeneration programme, delivered with support from the Government's Future High Streets Fund. The former bank was purchased with grant funding in 2023, and consent for demolition granted, to ensure the previous "eyesore" of a building could be replaced with modern, mixed-use development more in keeping with the area.
Final demolition works to the remaining adjoining wall are due to be completed shortly, leaving a secure, level site ready for regeneration.
To read the Cabinet paper, visit: 2 Broad Street March Update.pdf
To watch a live recording of the Cabinet meeting, visit: FDC Cabinet Meeting - 23/03/26
