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12/12a Market Hill, Cambridge, Cambridgeshire, CB2 3NJ

391.21 Sq M, (4,211 Sq Ft)

Offers in the region of £2,950,000

Under offer

Executive Summary

- Cambridge is one of the UK's premier retail destinations.
- Opportunity to acquire a prime premises within this historic university city attracting c. 5.3 million tourists per year
- Prime retail and leisure location next to M & S Simply Food.
- Let to family run Benedetto Restaurants Ltd, who have operated from the premises for over 45 years.
- Current passing rental of £150,000 per annum exclusive.
- Freehold.
- Offers in region of £2,950,000.
- Net Initial Yield of approximately 4.79% assuming normal purchaser's cost.

The premises comprise an end terrace corner positioned grade II listed period property arranged over ground floor, basement and 3 upper floors. The premises have been used for many years as a restaurant …

Executive Summary

- Cambridge is one of the UK's premier retail destinations.
- Opportunity to acquire a prime premises within this historic university city attracting c. 5.3 million tourists per year
- Prime retail and leisure location next to M & S Simply Food.
- Let to family run Benedetto Restaurants Ltd, who have operated from the premises for over 45 years.
- Current passing rental of £150,000 per annum exclusive.
- Freehold.
- Offers in region of £2,950,000.
- Net Initial Yield of approximately 4.79% assuming normal purchaser's cost.

The premises comprise an end terrace corner positioned grade II listed period property arranged over ground floor, basement and 3 upper floors. The premises have been used for many years as a restaurant (ground floor and basement), private members club (1st and 2nd floor) and ancillary offices (3rd floor).

The pavement area in front of the building provides attractive outside seating for circa 36 covers, permitted by way of a license from the local authority.

The world renowned university city of Cambridge has a population of circa 145,000 and is situated off the M11 approximately 50 miles north of London, 65 miles south west of Norwich and 40 miles south of Peterborough.

Cambridge is one of the UK's top shopping destinations and benefits from circa 5.3 million tourist visits per year.

The retail offer is strong, centred around Petty Curry, Market Street and Market Hill.

The subject premises occupy a prime position at the corner of Market Hill and Market Street, immediately adjoining M & S Simply Food, and next to Sovereign Centro's new cafe and restaurant development which has been to Costa, Five Guys & Tortilla. Franco Manca is opposite at the corner of Market Street and Rose Crescent.

Offers are invited in the region of £2,950,000 for the freehold interest schedule to contract and exclusive of VAT, which represents a net initial yield of 4.79% after allowing for standard purchaser's costs at 6.14%.

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You are enquiring about: 12/12a Market Hill, Cambridge, Cambridgeshire, CB2 3NJ Offers in the region of £2,950,000

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