3&4 Station Square, Cambridge

Opportunity to enhance and develop the square subject to planning Opportunity to capture potential reversion on the office space in 2027

• Overview

  Rare opportunity to acquire a recently completed freehold mixed-use scheme in the prestigious university city of Cambridge, located opposite the mainline train station in
  the heart of the CB1 quarter.

• Property specification

  • High specification mixed use development completed in February 2023 totalling 126,061 sq ft (11,711.45 sq m) of basement (car parking), ground (retail), first (offices) and 6 -7 floors above (residential). The scheme benefits from 72 car parking spaces and 218 cycle spaces
  • The retail and commercial space totals 17,849 sq ft (1,658.23 sq m) with 10 allocated car parking spaces.
  • Site area of 0.715 acres (0.290 hectares)
  • Multi-let to four tenants including Mishcon de Reya LLP, Raymond James Wealth Management, Tesco Stores Ltd and Gail’s Ltd
  • The properties provide an AWULT of 8.07 years to expiry and 6.36 years to break based on the commercial income
  • Total rent of £917,137 per annum, exclusive
  • Potential reversion based on our opinion of ERV to £1,063,110 per annum exclusive
  • Offers are sought in excess of £13,500,000 (thirteen million, five hundred thousand pounds) for the freehold and long leasehold interest (the latter via a transfer of shares in 3 & 4 Station Square Management Company Ltd) subject to contract and exclusive of VAT reflecting a net initial yield of 6.37%, and potential reversionary yield of 7.38% based on our opinion of ERV, an equivalent yield of 7.27% assuming standard purchaser’s costs of 6.80%