Savills, on behalf of a private investor, has sold the freehold of Heathfield House in Duxford, Cambridge to a developer who has since begun works to comprehensively refurbish the historic building.
The former Iceni Water site, which has sat vacant for two years, is set across a 2.65 acre (1.07 hectare site) and currently comprises 54,950 sq ft (5,105 sq m) of period production and office accommodation. The purchaser intends to extend the office part of the building, introducing a high quality fit out with fully air conditioned space. It will also subdivide the warehouse unit making it suitable for a number of commercial uses.
A substantial part of the property is set to be occupied by Mahahome.com, a leading internet kitchenware retailer. The remaining 16,733 sq ft (1,554 sq m) of warehouse space is being offered alongside offices suites which total between 2,000 sq ft (185 sq m) and 18,400 sq ft (1,709 sq m). Completion is anticipated in May this year.
Phillip Ridoutt, director in the business space team at Savills Cambridge, comments: “Heathfield House provided the purchaser with the opportunity to acquire a sizeable property, which is capable of generating a strong rental income from a variety of different occupiers, alongside excellent future asset management potential. The flexibility of the space, generous parking and excellent transport infrastructure will ensure the success of the venture.”