As the property fall out from last year’s merger of Royal Insurance and Sun Alliance continues, Royal & Sun Alliance is likely to seek offers in the region of £16m for the purpose-built former 14,864 sq m net (160,000 sq ft) regional headquarters of Royal Insurance on the Peterborough Business Park.
It was completed only six years ago and is adjacent to the Pearl Assurance offices. The last of the remaining staff left the high tech, energy-efficient building two weeks ago for a 3,144.5 sq m (33,848 sq ft) unit at the Pegasus scheme in Orton Southgate, Peterborough, which was developed by Sun Alliance.
Designed by Arup Associates, the Royal Insurance building boasts a lake and an indoor sports hall and sits in landscaped grounds of 8.09 ha (20 acres), including a sports ground. There is also expansion land of 6.07 ha (15 acres).
Peter Williams, of LSH, said the building could not easily be split so the hunt was on for a single occupier. It is also available leasehold.
EGi News 03/11/97
