Fens business park goes to auction - for up to £700,000
- Credit: Cheffins
A business park in the Fens is going up for sale by auction next week with a guide price of between £675,000- £700,000.
Springwater Business Park in Station Road, Whittlesey, comprises of five industrial unit occupied by three established tenants.
It will be sold by Cheffins of Cambridge on December 8.
Cheffins says the business park “boasts a strong rental income of £53,043 per annum” with EDF EN Services as the anchor tenant.,
The park is one of a number of commercial properties being offered for sale at the same auction.
There is also a modern semi-detached two storey office/workshop building on Ermine Business Park in Huntingdon with an estimate of £195,000 - £210,000.
On Newmarket High Street is a former bank hall with permission to convert to retail with flats above; it is being offered with an estimate of £325,000.
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Cheffins director Ian Kitson said: “Industrial buildings such as those available at Springwater Park continue to be some of the most sought-after as the sector sees vast levels of demand and strong yields.”
He added: “Similarly, mixed-use buildings are being actively sought by both smaller corporate and private investors, or career landlords who look to spread their bets across both the residential and commercial sectors.
“Values are increasing for small scale investment options, and we have seen that many buyers have turned to the auction room to pick up commercial opportunities at competitive prices as confidence in the market continues to grow following the Covid-19 pandemic.”