Rosemary Lane site
March 2010
Buyers wanting to develop a commercial site at Rosemary Lane in Cherry Hinton have a number of options available to them, according to Nick Muncey from Cambridge Consultant Surveyors Januarys.
The site, which is 0.34 acres, has planning consent for 11,302 sq ft of B1 use and is part of a well established commercial centre. It’s located close to Marshall’s airport and is just a couple of miles from the A14.
The vendors are happy to look at a number of options to expedite a sale.
The first would be a pre-let agreement. This is where the vendor agrees to put up a building that is built to a prospective tenant’s exact specification. In return, the tenant agrees to lease the building for a certain length of time.
The second is a joint venture between vendor and purchaser or tenant. The exact terms would depend on the level of skill each party could bring to the venture but both risk and profit would be shared and realised at the completion of the development.
“These three ideas are good examples of a seller doing everything they can to maximise their chances of a sale,” says Mr Muncey.
“With professional advice, sellers can come up with all sorts of imaginative schemes that help put their property at the forefront of peoples’ minds.
“The days of simply putting a ‘For Sale’ sign outside a building are behind us. Now, developers and vendors who are prepared to be innovative are much more likely to see results.