Five storey Churchgate office block in Peterborough sold in multi-million pound deal deal
Deal is one of largest in city
A prominent office block in the centre of Peterborough has been sold to a private investor in a multi-million pound deal.
The sale of the freehold for the five-storey Churchgate office block in New Street, Northminster, which offers a floor space of 53,000 square feet, is thought to be the largest sale by size of premises in Peterborough city centre this year.
The deal has been completed by property agents Eddisons for the landmark property that sits in the Northminster commercial district of
Peterborough, close to the city’s cathedral and its clerical precincts.
Steve Hawkins, Eddisons Regional Managing Partner, said, “This is a significant deal on a landmark, city centre property.
"We’re pleased to have secured its sale for our client.
"All parties involved in the transaction have been diligent in working solidly to complete the sale before the conclusion of what has been an unpredictable year.”
The property was sold by Eddisons on behalf of a private investor client to another private investment interest. The identities of both parties has not been released.
While the value of the deal remains undisclosed, Eddisons say the that Churchgate was put on the market for offers in excess of £4.25 million earlier this year.
On launching Churchgate for sale, Eddisons advised that it was a high calibre, high profile instruction and, in the absence of a plentiful pipeline of city centre freehold opportunities in Peterborough, its agency team had been expecting keen interest from potential buyers.