icons_size_white icons_size

AGENT'S DETAILS


16-17 St. Marks Street

For sale: POA|4124 Sq Ft|Office, Offices

PROPERTY DETAILS

FOR SALEPOA
SIZE4124 Sq Ft
ADDRESS16-17 St. Marks Street, Peterborough, PE1 2TU
TYPEOffice, Offices
TENUREFor Sale Freehold
POSTED ON9th March 2021

DESCRIPTION

Key Points

  • Semi-detached office building with 7 parking spaces
  • Within walking distance of Peterborough City Centre
  • Let to Peterborough Citizens Advice Bureau until April 2026 - rent of £19,500 pa
  • Seeking offers in the excess of £500,000 plus VAT
  • Future development potential to convert to residential use (STP)
  • Summary

    Freehold office investment

    Description

    The property comprises a semi-detached office building of brick construction under a pitched tiled roof. Internally the property provides a mixture of cellular meeting rooms, open plan office accommodation, kitchen and WC facilities. It is carpeted throughout and has a mixture of LED and florescent lighting. Externally the property includes parking for 7 vehicles. The property is considered suitable for a range of alternative uses in due course, including residential use under Permitted Development Rights (subject to consent).

    Viewings

    Strictly by appointment only with the sole agents, Savills

    Location

    Peterborough is situated in the heart of the East of England. The city is located approximately 80 miles north of London, 77 miles east of Birmingham and 32 miles north of Cambridge. Peterborough has become established as an important regional centre for commerce, industry, shopping, health, education and leisure. It benefits from a diverse economy and has been recognised as one of the fastest growing cities in the UK by population. The property is situated on St Marks Street approximately 0.5 miles north of Peterborough City Centre and the bus and railway station.

    Terms

    The property is available for sale freehold, subject to the lease to Peterborough Citizens Advice Bureau. Guide price of £500,000 (£121 per sq ft) plus VAT.

    Lease

    Let to Peterborough Citizens Advice Bureau (Registered charity number 1068198) from 9th April 2009 at an initial rent of £35,000 per annum. The lease has recently been extended for a further 5 years from 25th March 2021 to 8th April 2026 at a rent of £19,500 per annum exclusive. The lease includes a tenant only break clause on 9th April 2024 subject to 12 months notice.

    LOCATION

    Location: 16-17 St. Marks Street, Peterborough, PE1 2TU

    Peterborough (0.5 miles)

    Whittlesea (5.4 miles)

    close
    What do you think of our website?
    Complete our survey and
    you could win £1000
    Start here