>
12 bedroom property with land for sale
Newmarket Road, Cambridge CB5
£1,500,000
Newmarket Road, Cambridge CB5
£1,500,000
Our Summary
- Full planning approval for a mixed use redevelopment project in a central Cambridge location
- Planning - Granted on 5th May 2023 planning reference number 22/04356/FUL permitted the conversion and extensions to the existing buildings including demolition of the existing block to the rear of 1 Godesdone Road to deliver a mixed use development comprising a ground floor retail space and 12 1xbed residential units (net increase 9) to the rear and above along with cycle parking and associated infrastructure
- Agents Notes - Tenure - FreeholdCouncil Tax Band - Various for individual unitsNumber & Types of Room - Please refer to planning drawingsSquare Footage - Please refer to planning drawingsParking - Off street with gated accessUTILITIES/SERVICESElectric Supply - MainsWater Supply - MainsSewerage - MainsHeating - GasBroadband - Fibre availableMobile Signal/Coverage - GoodFlood Risk - None notedRights of Way, Easements, Covenants -None notedConservation Area - YesPlanning Permission - 22/04356/FUL
Description
This property is a mixed-use redevelopment project in a central Cambridge location, with full planning approval granted on May 5th, 2023. The site, which spans approximately 0.12 acres, currently generates a rental income of £56,740 per annum from two retail units, three residential units, and workshops. The approved plans involve converting and extending the existing buildings, demolishing the rear block, and constructing a ground-floor retail space and 12 one-bedroom residential units above, with cycle parking and infrastructure. The project offers an immediate opportunity, with the benefit of existing rental income, and is situated in a prime location on Newmarket Road, with easy access to the city center, train station, and local amenities.