11
Espresso Library
Parkside Place
East Road
Cambridgeshire
CB1 1BH
LOT
Cambridge
• Virtual Freehold Coffee Shop
Investment
• Located in modern residential
development
• A short distance from Cambridge
city centre and The Grafton
Shopping Centre
• Rent Review 2019
• Current Rent Reserved
£50,000 pa
SIX WEEK COMPLETION
AVAILABLE
Tenure
Long Leasehold. Held for a term of 999 years from 16th December
2010 at a fixed peppercorn ground rent.
Location
The historic university city of Cambridge, which is also the
administrative centre for Cambridgeshire, is Britain's pre-eminent
research and development centre and is internationally renowned for its
education, commerce and as a tourist centre. Cambridge is located
some 49 miles north of London, adjacent to the M11 (Junctions 1113), A14 and A10. The city also benefits from fast and frequent direct
trains to London's Kings Cross and Liverpool Street Stations.
The property is located in a modern residential development known as
Parkside Place fronting East Road (A603) and adjacent to Parkers
Piece Park.
The property is well positioned virtually adjacent to Anglia Ruskin
University, and close to both the city centre and The Grafton Shopping
Centre. Kelsey Kerridge Sports Centre and Parkside Pool and
Cambridge University Cricket Ground are also close by.
Description
The property is arranged on the ground floor only to provide a newly
fitted out coffee shop.
The property provides the following accommodation and dimensions:
Gross Frontage
15.83 m
(52')
Net Frontage
13.14 m
(43' 1")
Shop Depth
12.00 m
(39' 4")
Build Depth
12.00 m
(39' 4")
Ground Floor
189.90 sq m
(2,044 sq ft)
Tenancy
The property is at present let to ESPRESSO LIBRARY LIMITED, with a
personal guarantee, for a term of 15 years from 18th September 2014
at a current rent of £50,000 per annum. The lease provides for upward
only rent reviews every fifth year of the term and contains full repairing
and insuring covenants. There is a tenant break option at expiry of fifth
year, on payment of a £25,000 ‘break fee’.
The Grafton
Shopping Centre
University of
Cambridge
The Property
Tenant Information
Website Address: www.espressolibrary.co.uk
VAT
VAT is applicable to this lot.
Cambridge
Railway Station
Documents
The legal pack will be available from the website www.allsop.co.uk
Energy Performance Certificate
For EPC Rating please see website.
Prospective buyers are strongly advised to read the Auctioneers’ Notices Part One and Part Two and all applicable conditions of sale and addenda
Seller’s Solicitor Jonathan Green, Darlingtons Solicitors LLP. Tel: 0208 951 6620 e-mail: [email protected]
Joint Auctioneer Douglas Stanton, Carter Jonas. Tel: 01223 326801 e-mail: [email protected]
NB. The plan is for identification only. © Crown Copyright, ES 100004106
35