26/11/2024
News
Eddisons has secured the sale of an office property that, according to its agency team, represents the largest freehold office sale, by capacity, in Peterborough city centre in 2024.
Churchgate is an office block on New Street in the Northminster commercial district of Peterborough, close to the city’s cathedral and its clerical precincts. It is prime, Grade A office space totalling 53,600 sq ft across five floors of office suites and with almost 100 on-site car parking spaces boosting its Grade A appeal.
The property was sold by Eddisons on behalf of a private investor client to another private investment interest. While the value of the deal remains undisclosed, the Peterborough agency confirms that Churchgate was marketed for offers in excess of £4.25 million for the freehold of the property earlier this year.
On launching Churchgate for sale, Eddisons advised that it was a high calibre, high profile instruction and, in the absence of a plentiful pipeline of city centre freehold opportunities in Peterborough, its agency team was expecting keen interest from potential buyers.
Speaking about the sale, Steve Hawkins, Eddisons Regional Managing Partner, said, “This is a significant deal on a landmark, city centre property.
“We’re pleased to have secured its sale for our client. All parties involved in the transaction have been diligent in working solidly to complete the sale before the conclusion of what has been an unpredictable year.”
