Chartwell House, a three storey, multi-let, 5,092 sq ft office building at 620 Newmarket Road, Cambridge sold in excess of £1.2 million - reflecting a keen net initial yield of 4.8 per cent. Laurence Gercke of Barker Storey Matthews’ Cambridge office advises that once the property is fully let, the reversionary yield is set to be circa 6.5 per cent.
The second office investment sale was in Sawston. Unit N at South Cambridgeshire Business Park is a modern, two storey, 1,625 sq ft office building which sold for £420,000, reflecting an net initial yield of 7.2 per cent.
Commenting on these investment sales, Laurence Gercke said, “Despite the political turmoil, investor demand in the region remains strong, with good quality assets continuing to attract interest.”