Freehold investment sold in established Peterborough industrial location

Acting on behalf of investor clients and as joint agents, Eddisons and Richardsons have sold the freehold of the Mancetter Square estate on Lincoln Road, Peterborough.

Totalling 113,000 sq ft and sold for £4.5 million, Mancetter Square is located off the A15 to the north of Peterborough city centre and is an established industrial location on the Lincoln Road.

Established for over 50 years, the estate remains a popular business location and is where a multitude of businesses are based since the main building was subdivided into smaller trade counter and storage units.

The self-contained, circa 6-acre site is presently home to 70 separate businesses.

With an income stream of around £550,000 per annum, the sale at £4.5 million represents a double-digit yield return for the new investors who are not disclosed but are confirmed by the agents as local to the Peterborough area.

Steve Hawkins, who led Eddisons’ agency on the deal, commented, “The future of the estate is secured, and the new owners will look to enhance facilities and ensure that existing tenants continue to thrive and develop their businesses for the longer term.

“We wish them well in their investment.”