The landmark location sits to the south of Bridge Street and within a few metres of the Town Bridge and is on a site which extends to around 0.363 hectares (0.896 acres).
According to the agent, it is probable that the existing premises will be demolished as the site would suit a variety of uses.
Steve Hawkins, Managing Director, Barker Storey Matthews comments, "This is a very well known, prominent and visible site and there have been detailed discussions with Peterborough City Council planners regarding possible uses.
"A development brief has been produced to identify matters to be taken into account for the redevelopment of the site and a copy is available to interested parties.
"Based on our experience of in disposing of city centre sites and the commercial property requirements in Peterborough, we believe the site is likely to appeal to residential developers or office occupiers or for hotel and leisure use.
"Our client may consider a freehold sale but, ideally, an arrangement formulated to provide an income stream for Cambridgeshire Constabulary would appeal."
Bids are invited with a closing date of 30 June 2017.
For more information about industrial units for sale in Peterborough, contact Steve Hawkins, Barker Storey Matthews, tel 01733 897722.