Three city centre retail units are available to purchase on a freehold basis from Cambridge City Council. The units which are located on Mill Road, East Road and Burleigh Street are available through Cheffins.
Luke Davenport, Commercial Surveyor at Cheffins, says: “These three buildings have come available as Cambridge City Council rebalances its property investment portfolio. Having been within the City Council’s ownership for many years, these are now available on a freehold basis, presenting a rare opportunity for property investors to purchase units in key locations.”
152-154 Mill Road is two, two-storey, adjoined office buildings, stretching to 2,599 which are currently let to the Cambridgeshire and Peterborough NHS Trust and have a current rent of £32,000 per annum (rising to £36,750 per annum following completion of review.) With a guide price of £550,000, the buildings have an enclosed rear garden and parking area and potential for conversion to residential use, subject to planning permission.
On East Road, a 1,650 sqft mixed-use building is available for £550,000. Located prominently on one of Cambridge’s busiest arterial routes, the unit comprises of a restaurant and take-away premises with a three bedroom flat on the first floor. It currently generates a rent of £37,500 per annum. The unit has a glazed retail frontage and rear access from Adam and Eve Street.
There is also a rare city centre investment opportunity of a 640 sqft mid-terrace lock up takeaway premises on Burleigh Street with a current rent of £12,700 per annum. It is available to purchase for £200,000. The building has a kitchen and prep/store room, first floor ancillary seating area and toilets. Currently let to the Burleigh Bake Shop, the building is in a prominent location, close to the Grafton Centre.
For further information on any of these properties, contact Luke Davenport at Cheffins, on t: 01223 213666, firstname.lastname@example.org