Project Trio, 9

Rare opportunity to acquire a multi-let industrial investment in Cambridge City offering significant reversionary potential.

• Property specification

  • Nuffield Road is a long-established commercial location within the northern fringe of the city and is located just 0.5 miles from Cambridge North Railway Station and is in close proximity to Cambridge Science Park, Business Park and St Johns Innovation Centre. Junction 33 of the A14 is just 1.5 miles away, providing fast access to the wider road network.
  • Nearby occupiers include Huws Gray, Howdens Joinery, FMG Repair Services and a broad range of science, technology and innovation-led businesses associated with the wider Cambridge cluster.
  • Comprising seven units across three separate sites extending to approximately 1.71 acres and providing a total floor area of 35,943 sq ft (3,339 sq m) GIA.
  • Diverse income profile secured against five tenants with units ranging from 1,955 sq ft to 11,714 sq ft GIA
  • WAULT of 2.14 years to tenant break options and 5.30 years to lease expiry.
  • Vendor rental guarantees and income top-up arrangements provide a net income of £472,600 per annum, reflecting the assets estimated rental value less headlease rent liabilities.
  • Significant asset management opportunities through the letting of vacant unit, completion of agreed leasing initiatives and capture of future rental growth.
  • Property held under 3 separate long leasehold titles.
  • We are instructed to seek offers in excess of £4,500,000 subject to contract and exclusive of VAT
  • A purchase at this level reflects a Net Initial Yield of 9.85%, assuming purchaser’s costs of 6.57%. This is based upon a net income of £472,600 per annum after deduction of headlease rent liabilities and includes the benefit of vendor rental guarantees.
  • This reflects a low capital value of £125.20 per sq ft.