The premises comprise an end terrace corner positioned grade II listed period property arranged over ground floor, basement and 3 upper floors. The premises have been used for many years as a restaurant (ground floor and basement), private members club (1st and 2nd floor) and ancillary offices (3rd floor).
The pavement area in front of the building provides attractive outside seating for circa 36 covers, permitted by way of a license from the local authority.
The world renowned university city of Cambridge has a population of circa 145,000 and is situated off the M11 approximately 50 miles north of London, 65 miles south west of Norwich and 40 miles south of Peterborough.
Cambridge is one of the UK's top shopping destinations and benefits from circa 5.3 million tourist visits per year.
The retail offer is strong, centred around Petty Curry, Market Street and Market Hill.
The subject premises occupy a prime position at the corner of Market Hill and Market Street, immediately adjoining M and S Simply Food, and next to Sovereign Centro's new cafe and restaurant development which has been to Costa, Five Guys and Tortilla. Franco Manca is opposite at the corner of Market Street and Rose Crescent.
Offers are invited in the region of £2,950,000 for the freehold interest schedule to contract and exclusive of VAT, which represents a net initial yield of 4.79% after allowing for standard purchaser's costs at 6.14%.
( Agency Pilot Software Ref: 425297 )