Industrial building with £3.5 million price tag is sold as Peterborough agents complete two major deals
A factory with a £3.5 million price tag has been sold by a Peterborough property agent as it completes deals on two major commercial buildings in the city.
Savills, based in St John Street, has just overseen the sale of a prominent industrial site at Padholme Road, Peterborough, which went on the market with a price tag of £3.5 million.
The self-contained property, which extends to 59,369 square feet, is due to be redeveloped into smaller units that will be offered for rent.
Details of the buyer – which is said to be a private client - have not been released.
Savills were advising on behalf of the former owner Panther (VAT) Properties.
The building provides a mix of warehouse, production, office and storage space, alongside secure yard areas and on-site parking and nearby occupiers include Big Motoring World, Hyperama, Travis Perkins, Safestore, Rexel and Thrifty Car Rental.
Edward Gee, director in the commercial agency team at Savills Peterborough, said: “We are pleased to have completed the sale of this substantial industrial asset in one of Peterborough's most established commercial locations.
"The property's scale, self-contained nature and strategic position generated strong interest from the market.
Mr Gee said: "This transaction demonstrates the continued demand for well-located industrial and warehouse opportunities across the region."
Savills has also completed a five years lease agreement with Reed in Partnership for a 5,328 square feet office suite at Stuart House in St John’s Street, Peterborough .
The firm, which was joint letting agents with Eddisons, based in Thorpe Road, Peterborough, was acting on behalf of investors Cervidae.
Mr Gee said: “We are pleased to have secured Reed in Partnership as the latest occupier at Stuart House.
"The office is ideally situated in Peterborough city centre and is just a short walk from Queensgate Shopping Centre and excellent public transport links, making it a highly convenient location.
"The building features an on-site café, gym, staffed reception, flexible studio spaces and communal areas.
He added: “The letting reflects the continued demand for well-located, amenity-rich office accommodation in Peterborough, with occupiers increasingly seeking high-quality space that supports flexible ways of working while remaining easily accessible for staff and visitors.”