Acting on behalf of Peterborough City Council, commercial property agents Barker Storey Matthews have completed the letting of 5-7 Bridge Street in Peterborough City Centre to Loungers Ltd on a new 15 year lease.

The premises, previously occupied by Barista and Natwest Mortgage Shop have been combined by the Council to provide a ground floor area of 2,350 sq ft and a further 2,361 sq ft at basement level. Loungers will commence their fit out of the premises very shortly, and are aiming to open their 'Argo Lounge' concept before Christmas.

Julian Welch, Director at Barker Storey Matthews Peterborough office comments "it is great news that we have been able to attract Loungers to the City. They will provide Peterborough with an up-market food and beverage experience which i am certain will add further variety to the range of outlets available in the city centre".

He added "Loungers are perhaps best known locally as the owners of the Cosy Club in Stamford. This is certainly one of Stamford's most popular outlets and i am sure that a similar operation will be equally popular in Peterborough. We have worked very hard to attract them into the City, and have had the added complication of having to take back one unit in order to provide the right amount of space for the occupier. It is another example of the Council and its advisors working together to provide a varied experience for Peterborough".