The Merrifield Centre, 12 Rosemary Lane CB1

The Merrifield Centre, 12 Rosemary Lane CB1

11,532 sq ft (1,071.4 sq m)

Cambridge 1.5 miles
Cambridge North 2 miles
Shelford 3.5 miles

12,654 sq ft Cambridge Office and Laboratory Freehold Investment For Sale

Executive Summary

- Cambridge is internationally renowned for its University and research & development into the technology, life science and medicine sectors.
- COVID 19 has highlighted the importance of life science research which has seen significant growth over the past 18 months.
- 12,654 Sq Ft of Office and Laboratory accommodation.
- Single Let to Nanna Therapeutics Ltd.
- Total rent of £291,042 per annum exclusive representing £23.00 per sq ft.
- Long Term Redevelopment Potential.
- Offers are sought in excess of £4,200,000 subject to contract and exclusive of VAT.
- A purchase at this level would reflect a NIY of 6.50% and a capital value of £332 per sq ft assuming standard purchase costs.

Key Features

  • Cambridge Freehold Investment
  • Office and Laboratory
  • 100% let to Nanna Therapeutics
  • EPC D (89)

Location

The Merrifield Centre is located in Cherry Hinton, just off Coldhams Lane, approximately 2.5 miles to the east of Cambridge city centre and Cambridge railway station. The property has excellent road links to Cambridge city centre, the A14, M11 via Fulbourn and the A11 trunk road. The property sits within an established and popular commercial area with plenty of amenities nearby including a leisure centre, hotel, and supermarket.

The site is situated opposite Cambridge Airport, owned by Marshall Aerospace and Defence Group, who announced at the start of October 2020 it has taken an option of a 150-year lease at Cranfield to commence by 2030. This will release their Newmarket Road site for the development of up to 12,000 homes and around 5 million sq. ft. of business and commercial space. The timescale is relatively distant, but the quantum is significant and will create a new commercial district for the city. This forms part of the Cambridge East Area Action Plan. Directly opposite The Merrifield Centre outline planning consent has been granted for 1,200 homes, with associated retail accommodation, outdoor areas and two new schools. The development is to benefit from the latest measures in sustainable living and green energy. Nearby occupiers are mostly office and industrial users including; Diba Industries, Evonetix, Inca Digital and a David Lloyd gym.

Terms & Conditions

Offers are sought in excess of £4,200,000. A purchase at this level would reflect a NIY of 6.50% and a capital value of £332 per sq ft assuming standard purchase costs at 6.55%.

Key Property Details
Tenure
Freehold £4,200,000 Offers in excess of
Size
11,532 Sq Ft 1,071.4 Sq M
Type
Investments (Offices and Labs)
Carter Jonas reference
20008808
Property agent
Sebastian Denby
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