Land For Sale price not specified
185-189 NewmarketRd & 1 GodesdoneRd, Cambridge, CB5

THE OPPORTUNITY

A mixed-use redevelopment opportunity, with a submitted application for alterations and extensions to 185-189 Newmarket Road & 1 Godesdone Road, to deliver a proposed scheme comprising ground floor retail space and 12no. 1 bed apartments, along with associated infrastructure and cycle parking. The site offers an attractive opportunity to refurbish, reconfigure and extend an existing site in order to increase the income from which the site already benefits.

THE SITE

The site extends to approximately 0.12 acres and currently comprises two retail units, three residential units and workshops laid around a small courtyard to the rear. There is a passing rent from the existing tenants of £56,740 per annum.
The site is accessed between the retail unit at 185-189 Newmarket Road and 1 Godesdone Road, under a canopy. The completed scheme will comprise a 1,237 sq ft retail unit on the ground floor, with 5,575 sq ft of residential accommodation plus ancillary space. The proposals retain most of the courtyard space and seek to improve the layout to provide shared amenity space.

LOCATION

The site is conveniently located along Newmarket Road, the eastern link road into Cambridge city centre, providing excellent access to the A14 and M11. The site is located within the Central Conservation Area; Godesdone Road is predominantly residential in character, while Newmarket Road is host to a number of commercial and residential buildings.
Newmarket Road has undergone a period of regeneration with a number of developments taking place over the last few years, including a new Easy Hotel opposite the subject site. There are a number of local amenities nearby, including the Beehive Centre, Cambridge Retail Park, the Grafton Centre as well as a number of independent shops and restaurants. The historic Cambridge city centre is just a short walk from the site, as well as the River Cam and city parks. Cambridge Train Station is 1.2 miles from the site, with regular services to Kings Cross / St Pancras International, London Liverpool Street, Stansted Airport and the Midlands.

PLANNING

A Full Planning application (Ref: 22.04356/FUL) was submitted for 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”. The application was submitted on 4th October 2022 and a decision is expected to be determined in the April 2023 Planning Committee. We understand that there will be no affordable housing, and that no additional developer contributions are payable.

TENURE

The site is to be sold on a Freehold basis.

PRICE

Price on application.

VAT

We understand that VAT is not payable on the purchase price.

INFORMATION PACK

Please contact the agents for further information. All technical and planning documentation are available on the Greater Cambridge Planning Portal – Ref: 22/04356/ FUL.

TENDER

The site will be sold on an Informal Tender basis. Bids must be submitted using the Bid Proforma, which will be provided by the Sole Selling Agents. All bids must be received by 12noon Wednesday 17th May 2023 and should be emailed to the Sole Selling Agents.

CONTRACT TIMETABLE

There will be designated viewing days throughout the marketing period – the details for which will be disclosed in due course.
- Informal Tender Date – 12 noon Wednesday 17th May 2023
- Post-bid Interviews – w/c 22nd May 2023
- Preferred Bidder confi rmed and Heads of Terms Issued: w/c 29th May 2023
- Exchange of Contracts: w/c 24th July 2023
- Completion: w/c 21st August 2023

VIEWINGS

Viewings by appointment only.

CONTACT

For further information, please contact the Sole Selling Agents whose details can be found within the brochure.