The Surgery is due to merge with another practice currently based at 1 North Street, and the newly formed Practice will be moving into brand new premises currently being built for them on the corner of Lincoln Road and Craig Street. The merger necessitated the disposal of both of the existing Surgery buildings on North Street and Lincoln Road.
Julian Welch, Director at Barker Storey Matthews, Peterborough's largest firm of Commercial Property Agents, acted on the disposal. He commented "We are very pleased to have been able to dispose of the property on behalf of the owners. It was a very complicated transaction, as we had to ensure that the practice retains its ability to operate from the building until its new Surgery has been constructed on the site opposite".
He went on to say, "We understand that the purchasers intend to convert the property to residential use once the practice moves into its new building, which we anticipate to be during the Autumn of this year."
The sale of this ideally located property is yet another example of the Permitted Developments Rights that has led to an increase of office space in Peterborough being converted into residential accommodation.