163 - 167 Mill Road Cambridge Cambridgeshire CB1 3AN

163 - 167 Mill Road
Cambridge
Cambridgeshire
CB1 3AN

Freehold Retail Convenience Store and Office Investment

Let to Tesco Stores Limited until 2022
Includes self-contained office accommodation and rear car park
Redevelopment potential (subject to consents)
In same ownership since 1981
1 mile from the city centre
Neighbouring occupiers include Haart Estate Agents, Londis, Co-op Food and an eclectic
mix of local retailers

Lot
51
Auction
18th October 2018
Rent
£75,830 per Annum Exclusive
Status
Sold
Price
£1,415,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees

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Freehold Retail Convenience Store and Office Investment

Let to Tesco Stores Limited until 2022
Includes self-contained office accommodation and rear car park
Redevelopment potential (subject to consents)
In same ownership since 1981
1 mile from the city centre
Neighbouring occupiers include Haart Estate Agents, Londis, Co-op Food and an eclectic
mix of local retailers

Lot 51
Auction 18th October 2018
Rent £75,830 per Annum Exclusive
Status Sold
Price £1,415,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees

Property Information

Location

Miles: 1 mile south-east of Cambridge city centre, 54 miles north of London city centre
Roads: M11, A14, A10, A11
Rail: Cambridge Railway Station
Air: Stansted Airport, Luton Airport,

Situation

Cambridge is a historic, attractive and affluent university city some 50 miles north-east of London. The property is prominently located on the north side of the busy Mill Road, 1 mile south-east of Cambridge city centre. Neighbouring occupiers include Haart Estate Agents, Londis, Co-op Food and an eclectic mix of local retailers.

Tenure

Freehold.

Location

Miles: 1 mile south-east of Cambridge city centre, 54 miles north of London city centre
Roads: M11, A14, A10, A11
Rail: Cambridge Railway Station
Air: Stansted Airport, Luton Airport,

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail convenience store with self-contained first floor office accommodation which is accessed via a separate entrance at the front of the property. The property benefits from a large regular and level site accommodating a rear car park for approximately 12 cars and a forecourt. The site may be suitable for medium term residential redevelopment (subject to consents).

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First (Rear) First (Front)	Retail Office Office	271.11 sq m 159.27 sq m 101.06 sq m	(2,918 sq ft) (1,714 sq ft) (1,088 sq ft)	TESCO STORES LIMITED (1) (2)	15 years from 9/07/2007 on a full repairing and insuring lease	£75,830.17	08/07/2022
Total		531.44 sq m	(5,720 sq ft)			£75,830.17

(1) For the year ending 25th February 2017, Tesco Stores Limited reported a turnover of £40,134,000,000, pre-tax profits of £266,000,000 and a net worth of £749,000,000 (Source: Experian Group 21/8/2018).
(2) The Tenant has sublet part of the first floor front office. The occupier of the adjoining property at 169 Mill Road has been granted an annual licence to access over the rear car park with vehicles and on foot to afford access to the rear of 169 Mill Road.