Food and drinks retailer set to agree tenancy for former Post Office in Peterborough's Cowgate

A food and drinks operator is looking to move into the former Post Office in Peterborough’s Cowgate.

A tenancy agreement is close to being finalised with a food and beverage retailer, which is part of a national franchise, to trade from the premises at 28-30 Cowgate.

The building has been empty for eight years after the Post Office moved into Bridge Street.

The name of the operator has not yet been revealed.

Julian Welch, a director with property agents Eddisons in Peterborough, said: “We hope to have terms agreed in the next couple of weeks.

"The proposed tenant is a food and beverage retailer, part of a national franchise.”

At the same time, Mr Welch is close to concluding a sale of the entire block of 14 to 30 Cowgate on behalf of the freeholder.

He said: “We are in negotiations for a sale of 14-30 Cowgate as well as a letting of the former post office at 28-30.

"Terms of both the sale and the letting are confidential as negotiations still ongoing.”

The building 14 to 30 Cowgate – a space of about 11,000 square feet - has been marketed by Eddisons since September last year when the property went on the market with a price tag of £2.2 million.

At the time, Mr Welch said: “It’s a solid investment opportunity for the right investor.”

However, news of the pending tenancy agreement will be a disappointment to Stilton Butchers owner James Morgan who days ago announced hopes of setting up a steakhouse restaurant in the former Post Office.