A private client, advised jointly by Savills and Fox Lloyd Jones, has sold the freehold of the former Kiddicare Building on Club Way, Cygnet Park in Peterborough to European Tyre Enterprise Ltd.
The site will be used by the company’s leading tyre wholesale and distribution business, Stapleton’s Tyre Services. Stapleton’s will occupy the 180,248 sq ft (16,746 sq m) warehouse unit in its entirety, using the site to stock and distribute tyres across its UK network.
William Rose, director in the industrial & logistics team at Savills, comments: “Situated just three miles outside of Junction 17 of the A1, Cygnet Park offers excellent transport links to London and the surrounding areas via the A1 (M), A47 and A14 making it the ideal location for Stapleton’s. This was an excellent opportunity to purchase a freehold warehouse unit of this size in an area that continues to suffer from a distinct lack of good quality stock. The deal signals one of the largest investments in Peterborough for a number of years and is a positive endorsement of the city’s strong industrial offer.”
European Tyre Enterprise Ltd was advised by SBH.
