Three Crowns House
January 2010
We have celebrated the start of our commercial property activity for 2010 by announcing the exchange of contracts for the freehold purchase of Three Crowns House, Hills Road, Cambridge by its client Cambridge Assessment.
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The purchase was negotiated by David Ward of Januarys. The seller, Royal London Mutual Insurance was represented by Chris Eccles of Griffiths Eccles, London and Dick Wise of Bidwells, Cambridge.
Cambridge Assessment is the University of Cambridge’s school and vocational examinations group comprising three exam boards and a large research group. The building will house betweeeen 200 and 250 of the Group’s Cambridge based staff.
Three Crowns House occupies a prominent position close to Station Road Corner and is accessible to the historic City Centre of Cambridge and all major University Departments and Colleges as well as to the railway station and major road routes in and out of Cambridge.
Royal London fought a long campaign to achieve planning permission for the project and it is recognized that when completed the building will significantly enhance the street scene and amenity of this important approach to the City.
The existing 4-storey building of about 17,800 square feet was constructed in the 1970s and until recently was occupied by the Crown Court. Under the agreed terms, the financial details of which remain confidential, the seller will carry out total refurbishment of the existing building and construct an extension at the rear to bring the total useable floor area up to about 25,565 square feet.
The building is expected to be ready for occupation by August 2011.