Papyrus Business Parc changes hands in Peterborough

Savills, on behalf of NPW Ltd, has sold Phase one and two of Papyrus Business Parc in Werrington, Peterborough to Crossacre Properties Ltd. Offers were being sought in excess of £2million.

Totalling 18,984 sq ft (1,763 sq m), the park comprises modern office accommodation and a 9,120 sq ft (847 sq m) industrial unit currently let to Vindis Group. A further six tenants occupy the additional office space.

Only one suite remains vacant, comprising 832 sq ft (77.29 sq m) at a quoting rent of £10,000 per annum.

Edward Gee, associate director in the business space agency team at Savills Peterborough, comments: “Papyrus Business Parc provided the purchaser with an excellent opportunity to acquire a good quality modern scheme with a diverse mix of office and industrial tenants, alongside strong rental income and future asset management potential. We expect to receive considerable interest in the last remaining vacant office suite.”