Savills Peterborough, which is marketing the scheme with joint agents Atisreal and Knight Frank, anticipates the scheme will be complete in spring 2009.

Fengate East will be developed on 19 acres of land in the heart of the Eastern Industry area, one of the city's oldest, most-established commercial areas.

Phase one of the scheme will comprise 140,000sq ft of industrial development space and trade counters which will be available in 3,000sq ft to 36,000sq ft units.

The first phase of the development is likely to be complete in the spring of next year. Eastern Industry has tenants such as Perkins, Transco, British Car Auctions, as well as retail warehouses such as Homebase and Halfords.

William Rose, commercial director for Savills Peterborough, said: "Fengate East is an exciting scheme for Peterborough. Despite the challenging climate we are in, we hope for strong demand for these units from a wide range of sectors.

"The development is in an excellent location, with the trade counter units fronting on to Fengate, in one of the best locations in the Eastern Industry area."

For those interested in Fengate East, call William Rose, or Paul Farrow, at Savills Peterborough on 01733 344414, Atisreal 0207 338 4000 or Knight Frank on 0207 6298171.