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AGL advised on the acquisition of Coningsby Park, Peterborough.  It comprises 1980s industrial units on a 17 acre site most recently occupied by Thomas Cook as their HQ.

We tracked stop-start negotiations with another purchaser for more than twelve months and were finally able to secure the property for our client at a price reflecting less than £20 per sq ft. The property was acquired with vacancy of 80% and in need of extensive refurbishment.

Julian Carey at Stenprop commented, “Coningsby Park, Peterborough is a particularly exciting acquisition for us.  We were able to acquire the asset for a price reflecting largely vacant value, giving us the opportunity to use our asset management capabilities to reposition it to its former multi-let use.  Once fully let, this asset will be substantially yield enhancing for the overall portfolio.”

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