International real estate advisor Savills, on behalf of Sigma 2004 Ltd, has sold the vacant freehold of Frobisher House, 72 Westgate in Peterborough to Consort House (Fleet) Limited for £1.12 million.

Situated in the heart of Peterborough city centre, the property comprises a three storey office building totalling 15,832 sq ft (1,471 sq m). The site offers potential for conversion to residential use subject to planning consent.

William Rose, director of business space at Savills Peterborough, comments: “We are very pleased to have secured the sale of Frobisher House, which is a prime candidate for residential conversion given its central position in the city. Due to Peterborough’s strong rail links to London, we continue to see interest from residential developers looking to take advantage of second hand commercial stock.”

Mr Buttar of Consort House (Fleet) Limited, adds: “We are delighted to be successful in acquiring Frobisher House which is superbly located and look forward to developing at least twenty three, studio, one and two bedroom flats which will be available in approximately eight months”. Consort House (Fleet) Limited was unrepresented.