Thomas Cook sells former office site in Peterborough
Holiday giant Thomas Cook has sold its former offices in Peterborough.
The tour operator has confirmed the sale of its Coningsby Road site in Bretton, which it has owned since 1996.
Thomas Cook, which employs 1,115 people in Peterborough, is currently based at offices in Westpoint, Lynch Wood, which it leases from landlords Westmount Real Estate.
The Coningsby Road site has been sold to South Africa based investment company Stenprop.
A spokeswoman for Thomas Cook confirmed the sale. The price has not been revealed.
It is one of three industrial estates bought by Stenprop at a total cost of £13.5million.
They include Venture Park, in Stirling Way, Bretton, Peterborough, which has been bought from Catalyst Capital.
A statement from Stenprop reads: “Coningsby Park, originally built as a multi-let industrial estate before being fitted out as a call centre by Thomas Cook, provides an opportunity.
“The Peterborough multi-let market has low vacancies and encouraging tenant demand.
“The Coningsby Park estate is being acquired for a purchase price largely reflecting vacant value.
“This gives the company the opportunity to reposition the estate (at an additional cost of approximately £4.5 million) to its former multi-let use and bring it back to market for letting.
“Once fully let, the estate is anticipated to be substantially yield enhancing.”