Newmarket Road, Cambridge, CB5 8HA

This property presents a significant opportunity for both residential and commercial development in a desirable location in Cambridge. Situated at the intersection of Newmarket Road and Godesdone Road, the site has been granted full planning permission as of May 5, 2023 (ref: 22/04356/FUL) for an extensive redevelopment project. The approved plans include the transformation of existing structures while allowing for the demolition of a rear block to facilitate a mixed-use development that comprises ground floor retail space alongside twelve one-bedroom apartments in a well-designed layout. This includes the addition of nine new residential units, significantly boosting potential rental income. The parcel encompasses approximately 0.12 acres with current assets consisting of two retail spaces, three residential units, and several workshops surrounding a small courtyard. These elements can be creatively reimagined under the new scheme, which emphasizes both functionality and aesthetics. Furthermore, enhancements to the courtyard area will provide improved communal amenities for future residents. Currently generating an annual rental revenue near £56,740, this site holds considerable investment potential for those looking to capitalize on its strategic location and approved development plans.