Peterborough business park is sold in £2 million deal

Some of the offices at the Papyrus Business Park.

Papyrus Business Parc - phase one and phase two - in Werrington, has been sold to Crossacre Properties Ltd.

The sale has been overseen by Peterborough-based commercial agents Savills, which was acting on behalf of NPW Ltd.

The sale price has not been revealed but offers were being sought in excess of £2 million.

The park totals 18,984 sq ft and includes modern office accommodation and a 9,120 sq ft industrial unit currently let to Vindis Group. A further six tenants occupy the additional office space. Savills say that currently just one suite remains vacant and that comprises 832 sq ft at a quoting rent of £10,000 per year.

Edward Gee, associate director in the business space agency team at Savills Peterborough, said: “Papyrus Business Parc provided the purchaser with an excellent opportunity to acquire a good quality modern scheme.

It has a diverse mix of office and industrial tenants, alongside strong rental income and future asset management potential.

Mr Gee added: “We expect to receive considerable interest in the last remaining vacant office suite.”