Carter Jonas, the national property consultancy, has acquired Gibson House and 56 Burleigh Street, opposite the newly refurbished Grafton Centre in Cambridge, on behalf of Dernford Real Estate, the Cambridge-based property investment company.
Located on Burleigh Street, next door to Primark on a busy pedestrianised route, Gibson House is a 12,000 sq ft mixed use building. Arranged over four floors, the ground floor houses purpose built retail units, which are currently occupied by tenants including Sharps Bedrooms, as well as the social enterprises RSPA and Sense. On the first, second and third floors, the space is let to EC English, an established language school who also lease accommodation on Burleigh Street.
At 56 Burleigh Street, at which there is currently a vacant café, plans are being prepared for a new development. Carter Jonas has been instructed by Dernford Real Estate on the planning application.
Will Rooke, Partner, Carter Jonas Cambridge, said: “The Grafton Centre and the surround area is undergoing extensive regeneration, and the decision to acquire Gibson House and 56 Burleigh Street demonstrates the current appetite among investors in the region to date. Dernford Real Estate will bring forward plans to help improve Burleigh Street, and we are delighted to be working with the company on the planning application.”
Simon Dazeley, Managing Director, Dernford Real Estate, said: “We are delighted to have been able to acquire Gibson House and 56 Burleigh Street as new assets. The sites offer scope for creating a positive change in the local community via good quality investment existing retail and office space.
Joint vendors Wrenbridge and Legal & General were represented by Bidwells.