In April, Croudace Properties sold its freehold interest in 509 Coldhams Lane, to a local investment company.
The property has been vacant since Zeiss relocated its Cambridge operation to Cambourne.
Neil Scott Director at Croudace Properties remarked ‘’Plans for a refurbishment of Coldhams Lane were well advanced when we received a very good offer for the freehold that suited us, as the implications of COVID 19 were becoming apparent. By selling we have avoided the costs of the required work to the property and the risks associated with a vacant building, and we have made a good profit on book cost. The sale returns significant cash to the company in uncertain times.’’