New hope for fortunes of prominent Peterborough store that has stood empty for a year

About 1,700 square feet of the former Peacocks store in Bridge Street has just gone under offer to a potential occupier two years after the clothing retailer’s closure.

In addition, property agents Savills have been given the go ahead to market the rest of the 3,400 square feet store, which is being offered on an annual £48,000 rent.

The action comes after Savills completed the sale of the entire premises at 55 - 57 Bridge Street in an ‘off-market acquisition’ for an undisclosed price.

James Anderson, associate in the commercial agency team at Savills Peterborough, said: “This is a prominent city centre asset and the early interest we have received, resulting in one unit already being placed under offer, demonstrates the continued demand for well-positioned retail accommodation in Peterborough city centre.

He said: "We are actively seeking occupiers for the remaining space and we expect further interest given the property's visibility, flexibility and strong surrounding occupier mix.

He added: “The property is available to let on terms to be agreed at a quoting rent of £48,000 per annum.”

The identity of the new owner of the premises has not been revealed.

But it marks a change of direction for the three storey double fronted retail unit.

Plans had been drawn up in October 2025 by Gujjar Investments Ltd to revamp the store by dividing it into three separate areas for potential retailers with a new look proposed for the front and rear of the building. The plans were approved by Peterborough City Council in December 2025 and work was under way.

However, plans to create 15 one-bedroom flats on the first and second floors of premises were rejected by city council planners in March last year.

The empty shop is opposite the former TK Maxx and New Look store which has stood empty for about six years ago although there are now new plans to demolish the building.