43 Priestgate Peterborough Cambridgeshire PE1 1AR

43 Priestgate
Peterborough
Cambridgeshire
PE1 1AR

Freehold City Centre Office Investment

Entirely Let to Carter Jonas Chartered Surveyors until 2031 (subject to options)
Substantial Office Building and Car Parking
Located in Heart of City's Business District
Tenant in Occupation of the Property since 1986
Residential Conversion Potential (subject to consents)
Approximately 150 metres from Cathedral Square and the major Queensgate Shopping Centre

Lot
28
Auction
31st March 2022
Rent
£55,000 per Annum Exclusive
Status
Sold
Price
£736,000
Auction Venue
Live Streamed Auction

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Freehold City Centre Office Investment

Entirely Let to Carter Jonas Chartered Surveyors until 2031 (subject to options)
Substantial Office Building and Car Parking
Located in Heart of City's Business District
Tenant in Occupation of the Property since 1986
Residential Conversion Potential (subject to consents)
Approximately 150 metres from Cathedral Square and the major Queensgate Shopping Centre

Lot 28
Auction 31st March 2022
Rent £55,000 per Annum Exclusive
Status Sold
Price £736,000
Sector
Office
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 29 miles north of Cambridge. 37 miles east of Leicester, 41 miles north-east of Northampton, 75 miles north of London
Roads: A15, A1139, A47, A1(M) Junction 17
Rail: Peterborough Railway Station
Air: London Stansted Airport, London Luton Airport

Situation

The property is situated in the heart of the City of Peterborough's business quarter on the northern side of Priestgate with return frontage onto Cross Street. The property benefits from being approximately 100 meters south of Cathedral Square and 150 metres from the major Queensgate Shopping Centre. Peterborough Cathedral lies some 300 metres to the east.

Neighbouring professional occupiers include various solicitors firms, Mind, Peterborough Museum. national retailers and restaurants including H&M, Five Guys, Barclays Bank, JD Wetherspoon and Prezzo.

Tenure

Freehold.

Location

Miles: 29 miles north of Cambridge. 37 miles east of Leicester, 41 miles north-east of Northampton, 75 miles north of London
Roads: A15, A1139, A47, A1(M) Junction 17
Rail: Peterborough Railway Station
Air: London Stansted Airport, London Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial handsome Grade II listed corner office building together with modern extension with ground, first and second floor office accommodation and undercroft car parking.

The property may be suitable for conversion to residential flats (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

Band D

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Review
Ground First Second	Office Office Office	147.10 sq m 261.40 sq m 156.30 sq m	(1,583 sq ft) (2,813 sq ft) (1,682 sq ft)	CARTER JONAS SERVICE COMPANY t/a Carter Jonas (1) (CRN 00786457)	10 years from 25/12/2021 until 2031 on a Full Repairing and Insuring Lease (2) (4)	£55,000	25/12/2026
Total Approximate Floor Area		564.80 sq m	(6078 sq ft) (3)			£55,000

(1) Carter Jonas was established in 1855. Carter Jonas Service Company (CRN 00786457) were incorporated in 1964 and are a national company of multi disciplinary Chartered Surveyors and Estate Agents with 33 offices, 9 of which are situated in Central London. (www.carterjonas.co.uk) For the year ending 30/04/2021 Carter Jonas Service Company reported a Turnover of £46,308,827, a Pre-Tax Profit of £2,202,505 and a Net Worth of £2,342,325. (NorthRow 02/03/2022)
(2) The lease provides a tenant option to determine the lease on 24/12/2024 and 24/12/2027. The lease is subject to a 6 month rent free period upon the tenant completing works to the property stated in section 42 of the lease and cost approximately £70,000 +VAT.
(3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
(4) The lease is subject to a schedule of condition.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.