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Hobson Square Cambridge, CB2 9GZ
Use Class
E
Size
10,578 sq ft
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
Downloads
Downloads
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 02/12/2024