PETERBOROUGH City Council has released a statement saying it has been unsuccessful in its bid to buy the Great Northern Hotel.

Leader of the council, Councillor John Peach, said: “I received confirmation last night that Peterborough City Council’s bid for the Great Northern Hotel was unsuccessful.

“The bid was for the long-term good of the city to secure the site as a running hotel and to progress the long-term re-development of the station quarter.

“Naturally we are disappointed at this news however I hope that we can work with the new owners of the hotel for the good of the future of the city.”