Peterborough - 40-42 Bridge Street
Peterborough is a historic cathedral city and unitary authority area in the county of Cambridgeshire. It was designated as a New Town in 1967. The city is situated 82 miles (132km) north of central London, 35 miles (56km) north-west of Cambridge and 41 miles (66km) east of Leicester. The city stands on the River Nene which flows into the North Sea approximately 30 miles (48km) to the north-east.
Peterborough benefits from excellent road communications accessible via Junction 17 of the A1(M) which links the cathedral city to London and the north and the A47 to Leicester and the west.
In 2014, Network Rail committed £2.5m of investment into Peterborough Railway Station to increase passenger capacity and improve site facilities. Cities with a direct service from Peterborough include London Kings Cross (51 mins), Cambridge (50 mins), Stevenage (49 mins), Leicester (54 mins), Birmingham (1 hr 45 mins) and Leeds (1 hr 27 mins).
The subject Property is located in a prominent corner position on the pedestrianised Bridge Street which benefits from a good level of footfall. National retailers present in close proximity include WH Smith, Mountain Warehouse, Ann Summers, Specsavers, Costa, Greggs, Bon Marche, New Look and TK Maxx.
The property was built in 1932 and comprises an attractive Georgian façade arranged over ground, first, second and third floors.
See attached schedule of tenancies.
Current Rent PAX
The property has been elected for VAT and any disposal will be by way of a Transfer of a Going Concern.
£1,850,000 (Subject to Contract and exclusive of VAT )
8% net initial yield.
MISREPRESENTATION: These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office.