Development Opportunity for sale

154-156 Victoria Road comprises a terraced, three storey building of solid brick construction. The building is understood to have been originally constructed in the early 1900's, although has been extended and reconfigured more recently. The building is configured to provide a ground floor retail unit, independently occupied offices across ground, first and second floors and a separate second floor flat.
To the front of the property is a brick paved forecourt and there is a gated, tarmac surfaced courtyard/parking area to the side with space for 3-4 cars if parked in tandem. To the front of the property on Harvey Goodwin Avenue is a parking bay provided 4-5 spaces with 30 minutes free parking.
Part of the ground floor is let to Gray & Toynbee (Cambridge) Ltd and guaranteed by Toynbee Gray Holdings Ltd on a 10 year full repairing and insuring lease from 20th May 2022 at a current rent of £30,000 per annum.
Cambridge City Council have granted prior approval for the change of use from Class E to Class C3 (dwelling houses) to create 5 apartments (3 x 2 bed and 2 x 1 bed) at first and second floor under reference 25/04035/PRIOR. Full plans available from the agents.
There is a second floor flat that is privately let at £1,250 pcm.
The freehold is for sale at a guide price of £1.8m
Virtual Tour - https://launch360.uk/360views/154-156_Victoria_rd/index.htm