Modern purpose built student accommodation building
14 x single en-suite and 4 x twin en-suite rooms over 3 storeys
Let to Cambridge Arts & Sciences Ltd until 2027
2022 break option not exercised
2022 rent review remains outstanding
Well located 1.6 km (1 mile) north east of Cambridge City Centre
Cambridge is currently home to over 50,000 students
VAT Free Investment
Lot 9
Auction 15th February 2024
Rent £120,000 per Annum Exclusive
Status Sold
Price £1,600,000
Sector Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
1 mile north of Cambridge city centre, 27 miles south of Peterborough, 47 miles north east of central London
Roads
M11, A14, A428, A11
Rail
Cambridge Railway Station, Cambridge North Railway Station, Cambridge South Railway Station (due to complete in 2025)
Air
London Stansted Airport, Cambridge City Airport
Situation
The property is located in Cambridge, a highly affluent and historic university city and is the county town of Cambridgeshire. The city is home to the world famous Cambridge University as well as Anglia Ruskin University with a combined total of over 50,000 students as well as being a popular tourist destination with its 31 colleges, River Cam and other notable and historic attractions.
The property is situated approximately 1 mile north east of Cambridge city centre with a prominent frontage to Elizabeth Way (A1134) at its junction with Montague Road.
Tenure
Freehold.
Location
Miles
1 mile north of Cambridge city centre, 27 miles south of Peterborough, 47 miles north east of central London
Roads
M11, A14, A428, A11
Rail
Cambridge Railway Station, Cambridge North Railway Station, Cambridge South Railway Station (due to complete in 2025)
Air
London Stansted Airport, Cambridge City Airport
Situation
The property is located in Cambridge, a highly affluent and historic university city and is the county town of Cambridgeshire. The city is home to the world famous Cambridge University as well as Anglia Ruskin University with a combined total of over 50,000 students as well as being a popular tourist destination with its 31 colleges, River Cam and other notable and historic attractions.
The property is situated approximately 1 mile north east of Cambridge city centre with a prominent frontage to Elizabeth Way (A1134) at its junction with Montague Road.
Tenure
Freehold.
Description
The property, a modern purpose built three storey student accommodation building providing a total of 22 beds, comprising 14 single en-suite rooms and 4 twin en-suite rooms together with a ground floor communal kitchen/dining area, a small garden and an approximate gross internal area of 486.63 sq. m. (5,238 sq. ft.).
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a modern purpose built three storey student accommodation building providing a total of 22 beds, comprising 14 single en-suite rooms and 4 twin en-suite rooms together with a ground floor communal kitchen/dining area, a small garden and an approximate gross internal area of 486.63 sq. m. (5,238 sq. ft.).
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
Approx Gross Internal Floor Area sq m
Approx Gross Internal Floor Area (sq. ft.)
Tenant
Term
Rent p.a.x.
Rent Review
Ground/First/Second
Student Accommodation
486.62
(5,238)
CAMBRIDGE ARTS & SCIENCES LIMITED (on assignment from CAMBRIDGE EDUCATION GROUP LIMITED) (1)
10 years from 13/12/2017 (2)
£120,000 (3)
13/12/2022 (4)
Total
486.62
(5,238)
£120,000
(1) For the year ending 31/08/2022 Cambridge Arts & Sciences Ltd reported a Turnover of £16,061,000, a Pre-Tax Profit of £1,396,000 and a Net Worth of £16,713,000 (Source: Northrow 02/10/2023). (2) The lease is subject to a schedule of condition. (3) A rent deposit of £120,000 is held by the seller. Further details are available within the legal pack. (4) The 13/12/2022 rent review remains outstanding.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
