KLM Retail has been retained on an exclusive basis to secure a buyer for one of Cambridge’s most prominent, Grade II listed retail buildings. 3 Sidney Street comprises 16,166 sq ft (1,501 sq m) and has been let to Lloyds Bank for over 100 years. It is a stunning piece of architecture, with its own clock tower, decorative tiled floor and dramatic domed banking floor.
3 Sidney Street has extensive frontage and is located next to Marks & Spencer. Lloyds Bank has been in occupation since 1898, has 8.5 years remaining on its current lease and is paying £611,000 per annum. The property was originally built in the late 19th century and has since been extended, to include office accommodation on the first and second floors, 2 mezzanines and basement, as well as the banking floor at ground level.
Rupert Guy, Partner at KLM Retail commented, “If you are looking for a historical gem of a retail building, with a long-term, first class tenant, they don’t come much better than this. We are seeking offers of around £14.3 million, which provides a net initial yield of 4.00%.”
For more information, please contact rguy@klmretail.com
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