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FREEHOLD TENANTED BUSINESS PARK - GIRTON, CAMBRIDGE

For sale: £8,000,000.00|7 Acres|Offices, Business park, Land, Office, Commercial Land

Property details

FOR SALE£8,000,000.00
SIZE7 Acres
ADDRESSCamboro Business Park, Girton, Cambs, CB3
TYPEOffices, Business park, Land, Office, Commercial Land
TENUREBusiness for sale, Investment Opportunity, For Sale Freehold
POSTED ON24th November 2021

Description

EM&F East Anglia are proud to be appointed selling agents for this exceptional opportunity, being a rarely available freehold business park situated on the outskirts of Cambridge in the sought after suburb of Girton.

With the continued trend of businesses moving out of expensive city centre offices to more conveniently placed business parks, it is understandable that the future growth in both capital value and rental income achieved is expected to be strong on this site.

The site has been in the ownership of the vendors family for many years but in more recent times they have taken to developing the site into its current set up. Having done very well creating the successful development that they have, the decision has now been made to pass this onto someone new who is likely to want to develop it further.

The site is currently home to a number of high quality businesses including a very well regarded nursery, a gym and beauty salon, all of which help attract new tenants to the site who are keen to offer these facilities to their staff.

A countryside setting but yet conveniently located for the main M11 and A14 commuter roads as well as being only a few minutes from the A1307 Huntingdon Road into Cambridge city centre. The villages of Girton as well as neighbouring Histon have plenty of local amenities and the delightful Girton golf course can be found to the rear of the site.

The site at present has 5 main buildings over which the accommodation is spread with the nursery and gym being 2 standalone units of these. Providing over 34,000 sqft of let-able space each of the units have been constructed and fitted out to a very high standard and with the extensive parking provided they make an appealing place to work. Maintenance requirements for these buildings is expected to be low due to the quality of their construction.

Currently the rental income generated is £436k however this is due to increase in the coming (approx) 3 months to £480k with strong interest being shown on the vacant space available. In addition a recently vacated unit is expected to be re-let soon which will mean that the site is once again fully let and achieving a gross rent in the region of £516k. We understand that there is a service charge provision in the leases with the tenants contribution being capped at £1 per sqft.

Whilst this provides a very favourable return on investment as it stands, in our opinion there is significant opportunity to increase the number of units on site which in turn would of course increase both the rental income and the capital value. The vendor has already started to explore these options with initial plans and ideas being put into place and we will happily discuss these in further detail with any serious interested party. The site can remain as it is and provide a good investment to a new owner, given the level of rent currently achieved, however in the hands of an owner with the ability to develop the site to its full potential it offers an exceptional opportunity to enhance the value and return that is achievable.

Due to the existing income being generated and the significant further development potential there is in this prime located site we expect interest to be very high. We therefore recommend contacting us in confidence at your earliest chance to register your interest in the site.

FURTHER INFORMATION

TENURE
Freehold. The site is owned by the vendors existing limited company.

RATES PAYABLE
The vendor has advised that they do not pay any business rates currently.
This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

RENT RECEIVED
The site is currently produces a rental income of c. £436k however this is due to increase to c. £480k in the next 3 months with strong interest being shown on the vacant space available. There is one final unit to be re-let and when it has this will bring the rent up to c. £516k. There are a number of clear development opportunities which have the potential to significantly increase the rental income further.

PRICE
Offers are invited in excess of £8,000,000.

By way of a sale of 100% of the shares in the existing company that holds the Freehold of the site.

VIEWING
Call our East Anglia office on (01603) 662 662 to make an appointment.

Location

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Location: Camboro Business Park, Girton, Cambs, CB3

Cambridge (2.8 miles)

Waterbeach (5.3 miles)

Shelford (5.5 miles)

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