Botanic Place, Cambridge
TFT undertook a technical due diligence acquisition report to support our client’s purchase and reinstatement cost assessment for insurance purposes. Botanic Place is a 1.1 hectare site comprising a seven storey office building with additional basement and plant levels. The site also includes four end of life office buildings, a multi storey car park and a locally significant public house in need of repair and refurbishment. Botanic place is located within central Cambridge occupying prime real estate space in the business quarter of the city.
Whilst much of the site is marked for redevelopment under an outline planning application approved prior to the sale. An existing, recently developed building ‘Botanic House’ is located on the site. Botanic House is a fully let office building constructed circa 2014 with a net internal area of 52,280sqft. The redevelopment plans require the refurbishment of the public house whereas the remaining buildings are scheduled for demolition once vacant.
Our client proceeded with the acquisition and acquired the full extent of the site.