Norwich-based property group Dencora has bought a 125,000 sq ft office complex at Peterborough Business Park, Lynch Wood, from Equitable Life/Invista Real Estate Management.
The off-market investment, bought for an undisclosed sum, comprises five existing office buildings and around two acres of development land, where up to 30,000 sq ft of new-build office accommodation is available on a design-and-build basis.
The complex was marketed by Jones Lang LaSalle with a guide price of £13.5m.
Ed King, a director at Dencora, said: “We are delighted to have completed the purchase and look forward to securing lettings on the vacant 48,000 sq ft Fountain Court office building, where we are able to offer very competitive terms to tenants.”
Existing occupiers include BNP Paribas, Business Management Software and Budget Group.
Piers Pollard Chartered Surveyors and Barker Storey Matthews advised Dencora and Jones Lang LaSalle advised Equitable/Invista.
paul.norman@estatesgazette.com
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