New arrival has agreed 10 year lease

New arrivals to an historic section of Peterborough shows the city centre has a healthy future as a retail destination, it has been claimed.

Commercial experts say a spate of newcomers to Cowgate, historically a vital artery into the city, show there is demand from businesses to be trading in the city centre.

Among the most recent lettings is 33-35 Cowgate to The Cue Club Ltd overseen by property specialists Savills, and which opened several weeks ago.

Clockwise from top left, The Cue Club in Cowgate, Peterborough, the former Post Office in Cowgate, the former Yorkshire Bank in Church Street and the mural at the entrance to Cowgate.

placeholder image — Clockwise from top left, The Cue Club in Cowgate, Peterborough, the former Post Office in Cowgate, the former Yorkshire Bank in Church Street and the mural at the entrance to Cowgate.

James Anderson, of the commercial agency team at Savills Peterborough, said: “In recent times, Cowgate has seen the arrival of a range of restaurants and bar venues, and this letting shows that there is still appetite for retail units in Peterborough.”

He said that Savills, acting on behalf of a private client, had agreed a 10 year lease to the pool and snooker club for the adjoining two units providing 3,856 square feet across ground and first floors.

The property also features a small courtyard, office and storage space and is close to The Pizza Parlour and The Drapers Arms.

Mr Anderson said: “We are delighted to have successfully completed the letting at Cowgate on behalf of our client.

“Given its excellent location, which is one of the main thoroughfares in and out of the city, this property is the ideal site for Cue Club to open their business.”

Cowgate is also expected to see a new arrival at the former Post Office premises at 28-30 Cowgate.

A tenancy agreement is close to being finalised by property agents Eddisons with a food and beverage retailer, which is part of a national franchise, to trade from the premises.

The building has been empty for eight years after the Post Office moved into Bridge Street.

It is also hoped a tenant will be found for the former Yorkshire Bank building on Church Street, which runs into Cowgate and which is being marketed by Tydus Peterborough.

The historic importance of Cowgate has been recognised by Peterborough Positive - the city’s business improvement district - which commissioned street artists Nathan Murdoch and Tony Nero to transform the entrance with a huge piece of artwork that recreates a street scene from the street in 1908.