04/09/2023
News
A single block of properties in the historic centre of Peterborough is up for sale as a multi-let investment opportunity for over £2.2 million through the local office of Eddisons.
The series of properties runs from 14-30 Cowgate and sees three retail units with offices above, further detached and semi-detached office properties, and, additionally, clinic premises accessed by a pedestrian passage and courtyard to the rear.
The parade of properties has been under the same ownership for several decades and, with the exception of one office, is fully let.
Eddisons describes its latest instruction as a ‘rarely available investment opportunity’ and advises that there is scope for partial redevelopment in the middle of the parade, subject to relevant permissions.
The agent also adds that while 14-30 Cowgate is within the city’s conservation area, none of the properties have Listed status.
Cowgate, running parallel to Priestgate, is in the central commercial district of of Peterborough’s historic city centre and has a mix of retail & office occupiers.
It is one of the main routes with vehicle access leading to the pedestrianised Cathedral Square area and Bridge Street thoroughfare.
Eddisons’ Julian Welch (right), who is leading the sale of 14-30 Cowgate, is confident that the instruction will attract interest from a range of investors.
He said, “While acknowledging that the froth of the mainstream commercial property investment market has dissipated in the past twelve months, one-off multi-let investment opportunities like this one on Cowgate can still command serious attention.
“It’s a solid investment opportunity for the right investor.
“In looking for offers in excess of £2.2 million, we are reconciling its value in the current market with that of the long term opportunity.”
Viewing of the property for sale, at 14-30 Cowgate, Peterborough, is strictly through Eddisons as the sole agent.
