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Cambridge is a historic university city and is the administrative centre for Cambridgeshire. The city has a primary catchment of over 500,000 with an estimated shopping population of over 287,000. Cambridge is ranked as a Regional Centre (PMA) and dominates an extensive catchment area encompassing a number of smaller towns such as Haverhill, Saffron Walden, Royston and Ely.
The city is ranked 28th in terms of comparison good retail spend (Promis) an amount that is boosted each year by tourism with the city council estimating that 4.5 million tourists visit annually.
The property is located close to the entrance of the Grafton Centre, on the pedestrianised Fitzroy Street, which is the main link from the Grafton Centre to the historic city centre. The Grafton Centre is in the midst of being redeveloped to create a new life science hub, including laboratories, a hotel, and a gym, while retaining some retail space. The new development creates a mixed-use space, with the majority of the centre being repurposed for a life science campus and a hotel creating space for over 2000 new jobs .Approximately 11,000 sqm of retail floor space will remain, with some shops, such as Boots and, continuing to operate at the Fitzroy Street entrance.
The property comprises ground floor retail space accessed via a prominent entrance off Fitzroy Street. The first floor provides ancillary staff, storage and WC’s. The property has rear loading from Eden Street and Eden Street Backway.
The property is available by way of a new full repairing and insuring lease for a term of years to be agreed.
Each party is responsible for their own legal and other professional costs incurred in the transaction.
Strictly by appointment.
Interested parties are advised to make their own enquiries to the Local Authority.
| Rateable Value | £62,500 |
|---|---|
| Rates Payable | £30,000 |
| Ground Floor | 1,293 sq ft (120 sq m) |
|---|---|
| First Floor | 1,433 sq ft (133 sq m) |
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