New Priestgate House, Peterborough, Cambridgeshire
East of England, Peterborough sits 80 miles north of London, and continues to capitalise on its reputation as a long term sustainable growth area. Described as one of England’s ‘most interesting places to live’, it has an incredibly vibrant arts, culture and heritage community with levels of activity not typically found in communities of comparable size, thanks to a year-round events and festival calendar.
Already a key player within the 'London-Stanstead-Cambridge-Peterborough Corridor'- a priority growth area defined by CLG, Peterborough's investment opportunities have been widely documented on an international scale, with a number of high profile businesses relocating to the area. Eight years into a fifteen year, £1 billion redevelopment, the city's transformation grows from strength to strength; its efforts validated by a massive rental demand - currently outweighing supply by 2:1. There’s every indication that rental demand within this region will continue to hold its strength, which is why we think this property investment could be a good opportunity for our clients.
High grade residential development - 'New Priestgate House' is well situated to take advantage of multiple amenities within walking distance, including the popular Queensgate Shopping Centre and mainline railway station.
Offering a mix of 7 one bedroom and 29 two bedroomed apartments, all homes will offer contemporary open plan living and dining space with oversized windows (where possible) ensuring maximum natural light. With hard wood veneer floors and stainless steel sockets throughout, these high grade finishes combined with custom built kitchens, integral appliances and stylish bathroom designs come as standard for Prosperity clients, offering a home with style, luxury and comfort.
'New Priestgate House' is located on Bourges Boulevard, a vibrant part of the city set to be transformed as part as part of the Council’s commitment in creating a "gateway" into Peterborough. The £4.5 million spend will see the widening of the central reservation, landscape upgrades as well as the creation of two pedestrian crossings between the Crescent Bridge roundabout and Bright Street for pedestrians and cyclists.
Peterborough Train Station can be reached in just 3 minutes via a newly erected bridge walk, where all-day direct services to London Kings Cross can be reached in just 45 minutes. Further services include Cambridge in 49 minutes, Birmingham in 1 hr 20 mins, as well as many more direct UK destinations.
- Type: 5 storey residential conversion
- Location: Peterborough, Cambridgeshire
- No of Units: 36 apartments – mix of one and two bedroom
- Guide prices at point of sale: £132,995 – £189,995
- Predicted yield at point of sale: 7.43% – 9.37%
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