A mixed-use property instruction in central Cambridge provides an opportunity to add additional real estate value through the residential conversion of vacant space, as well as income through its currently leased elements.
That’s the view of BTG Eddisons – who is acting as joint agent with Robinson Layer – in marketing the freehold sale of ((https://www.eddisons.com/property-search/154-156-victoria-road-victoria-road-cambridge-cambridgeshire-cb4-3dz)) 154-156 Victoria Road, Cambridge for £1.65 million.
The three storey, mixed-use property has retail and office uses at ground floor level, with offices on the first and second floor – plus a residential, tenanted flat on the top floor.
Part let presently, the property has a current income of £45,000 per annum. While the retail and residential parts are currently occupied, the offices are vacant.
The property is for sale with planning approval to convert the upper floor offices to five apartments.
Ben Green, who is leading BTG Eddisons’ agency on 154-156 Victoria Road with Steven Harvey of Robinson Layer, said, “This unique opportunity that will likely appeal to developers seeking to add value through the residential conversion already consented.
“Alternatively, it could appeal to a company wanting to occupy the offices and take an income from the let parts.
“Whether purchased and retained in its current retail-office-residential mix or developed out to fulfill its consented residential potential on the upper floors, it lends itself as an attractive freehold investment opportunity to buyers interested in these layers of the Cambridge property market.”
Viewing is strictly by appointment through the Cambridge agents.
For more information, contact Ben Green at BTG Eddisons, tel 01223 467155, ben.green@eddisons.com or Steven Harvey at Robinson Layer, tel 01233 346192, sjh@robinsonlayer.co.uk.