68,000 sq ft
Pulpex Ltd, Harrow Green Ltd, Building Product Solutions Ltd
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.
- 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