PROPERTIES

Carlyle House, 22-28 Carlyle Road, Cambridge CB4 3DN

Carlyle House, 22-28 Carlyle Road, Cambridge CB4 3DN

  • Income£199,106
  • SectorOffice
  • StatusUnder Offer
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Rare Freehold Office & Potential Life Science Redevelopment Opportunity Within Central Cambridge

Summary

  • Rare opportunity to purchase a Freehold building in central Cambridge with planning consent to redevelop a prime office / potential life science investment.
  • Cambridge is a highly affluent and internationally renowned university city located in the south east of England, forming part of the “Golden Triangle”.
  • Prominent existing 10,746 sq ft office block.
  • Multi let producing an income of £199,106 per annum with an estimated VP deliverable within 12 months.
  • Planning consent recently granted to increase the massing on the property to provide 19,735 sq ft of NIA accommodation.
  • The property will provide a variety of floor plates ranging between circa 3,250 sq ft and 6,000 sq ft and floor to ceiling heights of approx. 3.7 meters on each floor.
  • Prime rents in Cambridge are expected to achieve in excess of £53 per sq ft by the end of 2022 and £59 per sq ft by 2025.
  • Potential to create a sustainable redevelopment with strong ESG credentials.
  • Offers in excess of £7,500,000 (SEVEN MILLION FIVE HUNDRED THOUSAND POUNDS), subject to contract and exclusive of VAT. A purchase at this level will reflect a capital value on the consented scheme of £380 per sq ft.