Cheffins Planning and Development team has secured commercial and industrial use including storage and distribution at the Atlas building at Papworth Business Park before it hit the market last week.
With over 24,055 sq ft of industrial/ warehouse space, the building now has permission for B8 (wholesale, distribution and repository) use as well as B1 and B2 (general industrial). The Cheffins Planning and Development team has also achieved permissions for extended opening hours, increasing the building’s desirability to a range of occupiers.
The building provides modern warehousing and office space with a high specification including power floated concrete floor with loading of 50kn/sqm, loading doors, high efficiency glazing and lighting systems. Atlas also provides 75 parking spaces, secure cycle parking and landscaped grounds.
Located at Papworth Business Park, the building is conveniently placed for the A14, A1 and M11 trunk roads as well as only being ten miles from Cambridge.
Jon Jennings, Director, Cheffins Planning and Development team comments: “Permission for the Atlas Building to be used for B8 use as well as B1 and B2 was granted by South Cambridgeshire District Council on 27th June 2017. The flexibility of use will add value and increase desirability to operators, many of which are looking for new locations close to Cambridge and the area’s main arterial roads. There is a distinct shortage of this type of building in the region which is reflected in prices achieved for buildings with distribution use. As online shopping continues to impact the market, we are likely to see more buildings applying for change of use to be used as distribution centres or repositories.”
Steven Harvey, from Cheffins Commercial Agency team which is handling the building comments: “East Anglia is rapidly growing in its standing as a logistical hub and this is leading to an increased need for warehousing and industrial units. The Atlas Building is a rare opportunity to purchase an industrial building on a long leasehold basis in the Greater Cambridge market. We have seen a strong level of demand for property of this size and expect it to generate significant interest with a wide range of occupiers.”
The Atlas Building is available to purchase for £2.1m and generates a yearly rent of £156,350 per annum, excluding service charges.
For more information, please contact:Jon Jennings on 01223 271985 or Steven Harvey on 01223 271941.