£4.5m paid for freehold investment of Peterborough business estate

Totalling 113,000 sq ft, Mancetter Square is located off the A15 to the north of Peterborough city centre and is an established industrial location.

Established for more than 50 years, the estate remains a popular corporate honey pot and is where a multitude of businesses have been based since the main building was sub-divided into smaller trade counter and storage units. The self-contained, c6-acre site is presently home to 70 separate businesses.

With an income stream of around £550,000 a year, the sale price achieved for the estate reflects 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.”

In another deal piloted by Eddisons, the yard area of a 7,620 sq ft warehouse on a two-acre site helped generate ‘enormous’ interest when it came to the successful sale on Oxney Road in Peterborough, the agent reports.

Acting for regional vehicle dealership, T C Harrison Group Ltd, Eddisons sold Ashstead House for a price which it advises was ‘considerably’ in excess of the £1.1 million guide. Interest was boosted by the warehouse having a large yard. The new owner is not disclosed.

Gavin Hynes, Director, Eddisons, said: “In one of Peterborough’s established industrial districts, Ashstead House was always going to attract interest. However, it soon became clear that the presence of a large yard as part of this instruction was adding extra appeal and we generated serious interest from potential purchasers that led to the final, very satisfactory, price achieved for our client.”