PAI member Barker Storey Matthews has confirmed the freehold sale of an office building at South Cambridge Business Park, on which it was the sole agent, to a private investor.
Unit G, South Cambridge Business Park, Sawston is a two storey building with a total of 287.55 sq (3,095 sq ft) of office accommodation across the two floors. The freehold interest was sold with the benefit of a lease to the current tenant at a rent of £60,500 per annum.
South Cambridge Business Park in Sawston is an established commercial location with a mix of office and light industrial buildings. Located just seven miles south of Cambridge, the Park offers easy access to the M11 and A11.
Unit G was sold at a price of £735,000, reflecting a net initial yield of 7.81 per cent.
According to Ben Green, Director, Barker Storey Matthews, the Park is in a location which is benefitting from the growth of nearby business and science parks in the commercial arc south of Cambridge city.
“Sawston lies within the heart of the South Cambridge cluster of life science and reasearch parks which host major national and international companies and which are expanding to meet commercial occupier demand,” he said.