Cambridge University Reporter


Report of the Council on the sale of premises in Trumpington Street and Fitzwilliam Street

The COUNCIL begs leave to report to the University as follows

1. Successive Estate Strategies have included policies to vacate as much operational space as possible in former houses in the Trumpington Street area, and to dispose of the properties on long leases. The sale or other disposal of 15-19, 21, and 22 Trumpington Street, 2-5 Bene't Place, and 17-19 Brookside, was approved by Graces 2 and 3 of 5 March 2003. The Council undertook to publish a Notice setting out the agreed terms of any sales of these buildings, and gave a report on progress, including the sale of 17-19 Brookside, in its Notice of 17 October 2005 (Reporter, 2005-06, p. 59). The Council can now report that the sale of 15-19 Trumpington Street on a long lease to a hotel operator (Malmaison and Hotel du Vin European Limited Partnership) was completed on 7 April 2006. The sale of 2-5 Bene't Place referred to in the Notice of 17 October 2005 did not proceed and the properties remain unsold. Nos 2 and 3 Bene't Place have been allocated to the Counselling Service, while Nos 4 and 5 are still on the market. The premises at 21 and 22 Trumpington Street also remain unsold, and have been put back into operational use. The total net proceeds of the sale of 17-19 Brookside and of 15-19 Trumpington Street amounted to £5.43m. The proceeds of the sale of these premises, together with other funds identified in the Council's Report on the construction of a new building for the Faculty of Education (Reporter, 2002-03, p. 360) and including further SRIF funding, are sufficient to cover the construction costs of the new building.

2. The strategic review of the Trumpington Street properties referred to in the Notice of 17 October 2005 was completed during 2006. This included a proposal to depart from the normal policy of retaining freeholds in the City Centre by selling the freehold of 28-29 Trumpington Street and 1-2 Fitzwilliam Street. These properties are at the north-western corner of the Old Addenbrooke's Site, back onto College property, and have no direct access to adjacent University land and properties. The Finance Committee has advised that the general policy of retaining City Centre freeholds should be maintained, but has recommended the freehold disposal of these properties as an exception to that policy.

3. 1-2 Fitzwilliam Street are now vacant, and the remaining occupants of 28-29 Trumpington Street will vacate the properties in the first half of 2008.

4. The Council recommends that approval be given to the sale of the freeholds of 28-29 Trumpington Street and 1-2 Fitzwilliam Street.

17 March 2008 ALISON RICHARD, Vice-Chancellor M. CLARK D. W. B. MACDONALD
 ROSS ANDERSON S. J. COWLEY G. A. REID
 TONY BADGER BOB DOWLING VERONICA SUTHERLAND
 NICK BAMPOS S. ENSOR-ROSE JOAN M. WHITEHEAD
 W. BORTRICK M. FLETCHER RICHARD WILSON
 NIGEL BROWN DEBBIE LOWTHER S. J. YOUNG
 WILLIAM BROWN