Newly built 68,000 sq ft multi-let estate and adjacent 3.4 acre development site with planning permission for 73,000 sq ft. Located in the Oxford/Cambridge arc seven miles south of Cambridge City Centre and less than five miles from junction 10 of the M11.

Key statistics

Purchase price

£20.2m

Area

68,000 sq ft

WAULT

8.1 years

Contracted rent

£0.7m p.a.

Key Occupiers

Pulpex Ltd, Harrow Green Ltd, Building Product Solutions Ltd

Occupancy

83%

Why did we buy it?

Purchased in May 2021 for £20.2m, reflecting a net initial yield of 4.2% on the apportioned price for the completed buildings. Cambridge is one of the fastest growing employment and innovation centres with industrial availability at just 3.7%. High specification with EPC ratings of A-B and a renewable energy source on site.

What is the future?

Increasing occupancy by leasing the three remaining vacant units which currently benefit from a rental guarantee.  Marketing campaign for the development of the 14-unit, 73,000 sq ft Phase 2 with risk managed via pre-lets.

Sustainability features

  • Wind turbine – operating renewable energy source
  • Plentiful supply of bike racks supporting sustainable travel
  • Current EPC ratings are A/B, clear strategy to target A-rated units
  • Sustainable focused tenants, potential partners for advancing sustainable agenda