Former Peterborough department store changes hands for £4m
A former Beales department store in Peterborough has been sold to a private developer for £4m.
The property extends to approximately 151,356 sq ft over 1.5 acres and has consent for the construction of 125 residential units and 9,106 sq ft of commercial or retail space.
The site is located on a corner location on the north side of Westgate, opposite Queensgate Shopping Centre and in close proximity to the town’s bus and train stations.
Savills completed the sale on behalf of Panther Properties.
Edward Gee in the commercial agency team at Savills Peterborough, said: “This is an exciting sale for Peterborough as the prominent former Beales site is set for redevelopment which is much needed. We look forward to seeing the plans progress adding to the vibrancy within Peterborough city centre.”