Cambridge shops change hands in £9m deal
Sidney Sussex College has bought 20-22 Sidney Street in central Cambridge from Scottish Widows Fund & Life and Schroders Investment Managers for £9m.
The six-storey building, covering38,525 sq ft, is currently occupied by Waterstones and Vinyl Nightclub. It was purchased freehold, subject to the two leases.
Before becoming a bookstore, the building was home to The Dorothy, a tearoom, dance hall and music venue which hosted the likes of Pink Floyd, Jimi Hendrix and The Who.Other tenants around Sidney Street include Marks & Spencer, Boots, Urban Outfitters, Lloyds Bank and Next.
Sidney Sussex College has bought 20-22 Sidney Street in central Cambridge from Scottish Widows Fund & Life and Schroders Investment Managers for £9m.
The six-storey building, covering38,525 sq ft, is currently occupied by Waterstones and Vinyl Nightclub. It was purchased freehold, subject to the two leases.
Before becoming a bookstore, the building was home to The Dorothy, a tearoom, dance hall and music venue which hosted the likes of Pink Floyd, Jimi Hendrix and The Who.Other tenants around Sidney Street include Marks & Spencer, Boots, Urban Outfitters, Lloyds Bank and Next.
Martin Pierce, bursar at Sidney Sussex College, said: “This prestigious site is a natural extension to our portfolio of retail commercial property in Cambridge.”
Edward Dodson, director at Cheffins, who advised Sidney Sussex College on the purchase, said: “This purchase abuts the existing college estate, which includes properties on Sidney Street, Sussex Street, King Street and Hobson Street.”
Darren Hill, director at Cheffins, who manages the Sidney Sussex portfolio, added: “This is an addition to the Sidney Sussex commercial portfolio and widens the range of tenants within the estate. We are looking forward to working with the occupiers and bringing them under the Sidney umbrella.”
Mills & Reeve acted as legal advisors for the college.
Image from Cheffins
