OFFERS INVITED FOR THE PURCHASE OF A 999 YEAR LEASE FOR RETAIL UNITS ON NEW DEVELOPMENT OFF LYNN ROAD, ELY, CAMBRIDGESHIRE, CB6 1SP

Location The units are located on the northern edge of Ely approximately 2 miles (3 kilometres) north of the city centre. The site is well connected to the city centre with easy access to services and local facilities.

Ely is an historic Cathedral City which provides an excellent range of shopping facilities, schools catering for all ages and various sporting and social activities including the Ely Leisure Village which incorporates a sports centre, swimming pool, multi-screen cinema and restaurants.

The main A10 road at Ely provides access to Cambridge which in turn links with the A14 and M11 motorway to London. Ely also has a mainline station which provides a rail service to Cambridge, London and other key regional cities.

Description The property comprises four retail units which are located on the eastern edge of the new development off Lynn Road, Ely which was granted outline planning permission (ref. 13/00785/ESO) on 20th June 2016. Reserved matters approval (ref. 21/00470/RMM) for the Planning Layout, floorplans and elevations for the retail units set within a building block with residential apartments above was granted on 10th November 2021.

The outline planning permission (ref: 13/00785/ESO) allows for Use Classes E(a), E(b), E(c) and sui generis (hot food takeaway).

Units NR1 and NR2 The units are located within the northern block on the eastern edge of the new development off Lynn Road.

Floor Area: Approximately 73 square metres with 18 square metres of storage.
Parking: No allocated spaces - access to 6no. unallocated visitor parking spaces to the rear of the building.
Estimated build completion date: Q1 2027
Available leasehold
Management company service charge: TBC
Services - Electricity, gas and water

Units NR3 and NR4 The units are located within the southern block on the eastern edge of the new development off Lynn Road.

Floor Area: Approximately 52 square metres with 13 square metres of storage.
Parking: No allocated spaces - access to 8no. unallocated visitor parking spaces to the rear of the building.
Estimated build completion date: Q3 2027
Available leasehold
Management company service charge: TBC
Services - Electricity, gas and water

Access Vehicular and pedestrian access to the site will be over the new estate roads which will be constructed to an adoptable standard and adopted by Cambridgeshire County Council.

The vendor will grant the purchaser a right of way over the estate road until such time as the road is adopted by the County Council subject to the purchaser making good any damage which it causes to the estate road during construction of the units.

Electricty, Water, Gas and Telecoms The vendor will provide electricity, water and telecoms services to the site with sufficient capacity for the retail units, the precise capacities to be agreed with the purchaser.

Foul and Surface Water Drainage The vendor will provide foul and surface water drainage connections with sufficient capacity for the retail units, the precise capacities to be agreed with the purchaser.

Terms The retail units are available to purchase on a 999 year Lease.

User The lease will contain a covenant restricting the use of the property to the Use Classes detailed within the planning permission.

Offers The vendor is seeking a premium for a 999 year lease of each unit with a nominal annual ground rent. In addition, the purchaser will be obliged to pay a service change for the maintenance of the common parts.

Viewings Viewings are strictly by appointment with the Agents:
Cheffins, 25 Market Place, Ely, Cambs, CB7 4NP.
Tel: 01353 654900
Email jonathan.stiff@cheffins.co.uk
Email andrew.amey@cheffins.co.uk