Hobson Square Cambridge, CB2 9GZ

For Sale
Hobson Square, Cambridge - Picture 2024-10-31-14-37-23

Agents

Green & Partners logo

Green & Partners

Ben Simpson

Alex Murray

Will Civil

Anita Briant

Use Class

Use Class

E

Size

Size

10,578 sq ft

Price

Price

£2,900,000

Key Features

  • Attractive new build investment in Great Kneighton, Cambridge;

  • Multi award winning new community by national developer Vistry Group;

  • Over 2,550 new homes and 10,578 sq ft of commercial space;

  • Hobson Square forms the commercial and community hub for the wider community

  • Close proximity to the internationally renowned Cambridge Biomedical Campus;

  • Long leasehold interest for sale at peppercorn rent;

  • Well configured accommodation across 4 units providing 10,578 sq ft over ground floor;

  • Benefit of visitor car park spaces adjacent to property and additional spaces nearby;

  • 65% let to undoubted Sainsbury’s Supermarkets Limited covenant;

  • Long WAULT to break of 12.7 and 16.1 years to lease expiry;

  • Index linked income;

  • Total income of £240,198 per annum.

Description

Multi - Let Index Linked Sainsbury's Anchored - Investment For Sale

The property comprises four new build retail & leisure units over ground floor beneath residential apartments. The units provide a total area of approximately 10,578 sq ft. The upper floors which do not form part of the sale, contain newly developed contemporary apartments.

Key Information

Further Infomation

Terms & Conditions

The successful purchaser will be required to fulfil anti-money laundering requirements in accordance with the Money Laundering Regulations.

Accommodation

10,578 Sq.Ft

Areas
Sq.Ft
Sq.M
Unit 1
1,335
124.03
Unit 2
1,690
157.01
Unit 5
2,207
205.04
Convenience Store
5,346
496.66

Financial

Lease Type

Existing Lease

Rent

Subject to contract, rental offers are invited in the region of £240198 per annum exclusive of rates, service charge, VAT (if applicable) and all other outgoings.

Price

(Two Million Nine Hundred Thousand Pounds), exclusive of VAT and subject to contract. A purchase at this level would reflect a net initial yield of 7.76%, assuming graduated purchaser’s costs of 6.80%.

Tenure

Leasehold - The property is held long leasehold for a term of 250 years from 1st January 2020 at a peppercorn rent.

Tenure Detail

The property is not listed and does not sit within a conservation area. The permitted user clause allows for a range of alternative uses (subject to planning) which offers a purchaser long term flexibility.

Terms & Conditions

The successful purchaser will be required to fulfil anti-money laundering requirements in accordance with the Money Laundering Regulations.

Vat

The property has been elected for VAT and it is assumed the sale will be conducted via a Transfer of a Going Concern (TOGC).

Sustainability

Available upon request.

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2024 Completely Property Technology Limited

This was last updated on 15/11/2024