Sale of Peterborough's Kiddicare premises helped boost annual results for commercial agents.

High profile commercial deals in Peterborough have helped power sales and profits for a leading company.

Friday, 16th March 2018, 10:51 am
Updated Friday, 16th March 2018, 1:30 pm
The former Kiddicare premises in Peterborough, which were sold last year with an asking price of 10 million.

The sale of the former premises of childcare supplies retailer Kiddicare, in Cygnet Park, Hampton, was one of the highlights of the year for commercial agents Savills.

The premises, which had been home to Kiddicare for a decade, were sold to European Tyre Enterprise. The amount paid for the buildings has not been disclosed but the asking price had been £10 million.

Kiddicare, which had been created by Peterborough couple Neville and Marilyn Wright and was eventually sold to supermarket chain Morrisons and then to homeware retailer Dunelm, moved into a new home at the PE1 garden park.

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David Goodson, head of Savills Peterborough.

Other notable deals for Savills in Peterborough last year included the sale of Thorpewood House, in Thorpe Wood, Peterborough, by Pigeon Investment Management to an overseas investor for £13.95 million.

There was also the letting of Logicor’s 189,000 sq ft industrial unit, Kingston 189, in Flaxley Road, Kingston Park, Peterborough, to food packaging manufacturer and supplier Dart Products Europe and the sale of Clifton House, in Broadway, which was home to Peterborough Jobcentre, by CLS Holdings to Shaviram Group for £6.21 million.

They are among a number of significant deals for Savills, which has nationally reported a growth in revenues of 11 per cent to £1.6 billion to the end of last year.

Its pre-tax profits rose 13 per cent to £112.4 million over the same period.

David Goodson, head of Savills Peterborough.

David Goodson, head of Savills Peterborough, said: "The Peterborough office has transacted some significant deals in the past year including the sale of the freehold of the former Kiddicare Building on Club Way, Cygnet Park.

We have expanded a number of key departments within the office including the rural planning and rural professional services and valuations teams and hope to continue this in the coming year.

"Our non-transactional teams have also seen a strong performance and we look forward to augmenting these successes further into 2018."

Jeremy Helsby, group chief executive, said: "Savills has delivered another strong performance in 2017.

"The strength of our business in key markets across the globe including a highly resilient performance in our UK residential business were key to these results."