Savills has acquired 1 Lysander Drive, Northfield Industrial Estate, Market Deeping, Peterborough on behalf of Pigeon Investment Management Ltd from private clients Budworth Hardcastle.
The five-acre site is occupied by 87,137 sq ft warehouse space, which is currently occupied by Landis+Gyr, a sustainable smart metering firm, who is set to vacate the property in March 2022.
William Rose, director in the business space team at Savills Peterborough said “The unit provided Pigeon with an opportunity to acquire a short income-producing asset with future redevelopment potential. Upon its return to the market, the unit will be the only one of its size available in the area. What’s more, due to significant demand for good quality warehouse space across the region it is likely to generate greater returns for the investor in the long term as we anticipate strong interest from possible new occupiers.”
Following comprehensive refurbishment works, already being undertaken by Waingap, the unit will be back on the market with Savills.
Image source- Savills
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