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Central Cambridge riverside development opportunity

Cambridge, Cambridgeshire, England

  • Freehold Price: Price on application
Seller Reference: CAMBRIDGEDevOp
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Business Description
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Seller Reference: CAMBRIDGEDevOp
Request Details
Business Description
• Central Cambridge Freehold
• Attractive riverside location on the River Cam
• 4 storey structure with existing planning for recreation and licensed use
• Site area approx. 0.048 ha (0.12 acres)
• Refurbishment/redevelopment opportunity of fire damaged property
• Redevelopment potential for mixed use/residential scheme (subject to obtaining the necessary consents)

The Tivoli occupies a prominent position on the Chesterton Road (A1303), which is to the north of the main city centre, close to its junction with the A1134 Victoria Road. The River Cam runs along the southern boundary of the site with the Jesus Green and Midsummer Common parks occupying the land immediately to the south of the river. The area is subject to significant redevelopment in and around the surrounding area of 'Mitcham's Corner'.

A substantial property that was originally built as a cinema but was most recently operating as a public house. The building was subject to a major fire in 2015 which has led to the roof of the building collapsing. Since then work has been undertaken to strengthen the structure of the existing building.

Recently planning permission (19/0046/FUL) was obtained for:-

'Alterations and repairs to building including reinstatement of frontages and side walls, bricking up of some openings, replacement windows and fire escape. Creation of second floor element and enclosed roof terraces to first and second floor. Part change of use of the existing building to recreational uses'.

Plans provided show the extent of this proposed scheme.

The site lends itself to redevelopment in whole or part, subject to obtaining the necessary consents.

The site has an approximate area of 0.048 ha (0.12 acres).

We are advised the building is not Listed but does fall within a Conservation Area. The relevant local authority is Cambridge City Council

Offers are invited for the freehold interest on either an unconditional basis, subject to the existing planning permissions, or on a conditional subject to planning basis.

The Business
Our client does not have access to historic trading information.

Rates & Charges
Rateable Value TBC

The government is introducing a business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year (18 March 2020).
Location Details:
Cambridge is an internationally renowned affluent city on the River Cam which is located approximately 50 miles north of London. The city is dominated by the attractive Cambridge University college buildings which back on to the River Cam. Road and rail communications are good with the M11 Motorway and A14 provide access to London, the North and East Anglia. Cambridge railway station provides regular services to London Kings Cross and London Liverpool Street.
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