Archive Business and Science Parks Archive £13m per acre a new record for Cambridge | £13m per acre a new record for Cambridge |
| Written by Business Weekly | |
| Monday, 22 October 2001 | |
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A new record land value for Cambridge city is being set with the quoting price in excess of £200,000 for a 0.0154 acre site - equivalent to almost £13m per acre.
A new record land value for Cambridge city is being set with the quoting price in excess of £200,000 for a 0.0154 acre site - equivalent to almost £13m per acre. The high-rise development on Coronation Street, off Hills Road, points to the future of housing in Cambridge city - building up rather than out. It also hands a ‘double your money’ opportunity to the buyer-developer. Despite its relatively small size - equating to 10.75 metres wide by 5.8 metres deep - it has detailed planning consent for two, four-storey, two-bedroomed town houses that could each be worth around £225,000 when built. The land is being offered for sale with vacant possession and the conent is for two, four-storey, two bedroom town houses. Mark Robinson, a director of agent Barker Storey Matthews, said: “This demonstrates that land value is related more to the end value of the planning consent achieved than by reference to values on a per acre basis.”
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