We have agreed terms for the investment sale of 25 Cambridge Place, off Hills Road in the city.
The property went to tender in mid February and attracted a good level of serious bids. The asking price of £360,000 for the freehold was exceeded. The property represents a good investment opportunity and attracts a current rental income of £19,000 pa exclusive.
Located just off Hills Road, providing convenient access to the railway station and the City Centre, the end of terrace three storey self-contained office building incorporates integral secure car parking for up to four vehicles. The building is of a brick/block construction under a tiled roof and is in good condition throughout. Total floor area is approximately 1,224 sq ft.
Reporting on the sale, Nick Muncey of our Transactions & Analysis department, comments; “This is a very useful piece of Cambridge real estate offering a sound property investment. There should always be a high rental demand for this size of accommodation; it is well suited to many small to medium sized Cambridge consultancy businesses. The asking price showed a yield of circa 5.25%”.
Completion of the sale is due in mid March.
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