Conclusion of Cowgate multi-let investment sale

A single block of properties on Peterborough’s historic Cowgate has been sold to a new investor in a deal conducted and recently concluded by our Peterborough agency team as the sole agent.

The series of properties runs from 14-30 Cowgate and is a mix of retail units with offices above, further detached and semi-detached office properties, clinic premises and, additionally, the former premises of the city’s central post office.

The parade of properties had been under the same ownership for several decades and was marketed by BTG Eddisons as a multi-let investment opportunity at a guide price in excess of £2.2 million.

Cowgate, running parallel to Priestgate, is in the central commercial district of Peterborough’s historic city centre and is one of the main routes with vehicle access leading to the pedestrianised Cathedral Square area and Bridge Street thoroughfare. While 14-30 Cowgate is within the city’s conservation area, none of the properties have Listed status

Director Julian Welch led the sale of 14-30 Cowgate. While neither the new identity of the new owner nor the sale price achieved are disclosed by the agent, he said, “The level of interest reflected its status as a rarely available investment opportunity and reflected the potential for its partial redevelopment, subject to relevant permissions.

“It was always going to be a solid investment opportunity for the right investors. In acting for our client, the owner, in the transaction, the final deal reconciled the parade of properties’ value in the current market with that of the long term opportunity.”

Following the conclusion of the sale, BTG Eddison has been appointed as the sole agent instructed to market the letting of the former post office premises on 28-30 Cowgate.