£8.5 million warehouse goes up for sale in a move that could create 200 jobs for Peterborough

About 200 jobs could be created at a huge warehouse near Peterborough that has just gone on the market for £8.5 million.

The 87,137 square feet warehouse plus three storey office building at Lysander Drive on Northfields Industrial Estate in Market Deeping is being sold after undergoing a major refurbishment.

The property includes 237 car parking spaces and is set within a five acre site.

Marketing agents say the property, which was the former home of sustainable smart metering firm Landis+Gyr, is expected to help pave the way for the creation of about 200 jobs for the area.

The building is being marketed for sale at a guide price of £8.5 million.

Edward Gee, associate director in the business space team at Savills Peterborough, which is handing the property on behalf of Pigeon Investment Management, said: “Having been extensively refurbished the freehold is now available to purchase or there is an option to lease the property at a starting quoting rent of £550,000 per annum.

He added: “The property provides a rare opportunity to purchase a sizeable freehold warehouse building in an established industrial location.

“With significant demand for good quality warehouse space across the region, we anticipate the site will generate plenty of interest from both purchasers and potential occupiers.”

It is thought that a shortage of large industrial accommodation in the area means the warehouse is likely to prove attractive to many employers.

A 7,500 square metre warehouse planned for Gateway Peterborough is expected to quickly create 100 jobs if approved by Peterborough City Council.