Savills, on behalf of a private landlord, has sold the freehold of development land on Eyebury Road in Peterborough to Crossacre Properties Ltd. The site was marketed at a guide price of £1.5million.
The site comprises 5.4 acres (2.2 hectares) of land suitable for a range of uses subject to planning consent. Already allocated for employment use, it has previously had permission for industrial development, although this has since expired.
Following the purchase Crossacre Properties plan to reapply for a consent for a new open storage scheme.
Edward Gee, associate director in the business space team at Savills Peterborough, comments: “The land at Eyebury Road is situated in a well-established industrial location, close to the proposed Flagship Park scheme, which is set to provide a new warehouse development set across more than 100 acres. The site provided the purchaser with an excellent opportunity to acquire a sizeable plot to provide much needed open storage, which will benefit from the current supply / demand imbalance of this type of space.”