Sidney Sussex College has acquired 20-22 Sidney Street, Cambridge, a six-storey retail building from Scottish Widows Fund and Life Ltd and Schroders Investment Managers, for an undisclosed sum.
The building, which totals 38, 525 sq ft, is currently occupied by Waterstones Books Ltd and Vinyl Nightclub with frontage to both Sidney Street and Hobson Street and adjacent to Hobsons Passage. It was purchased freehold, subject to the two leases.
Sidney Street is one of Cambridge’s most iconic shopping destinations and provides a comprehensive mix of retail tenants including Marks & Spencer, Boots, Urban Outfitters, Lloyds Bank and Next.
Edward Dodson, Director, Cheffins, who advised Sidney Sussex College on the purchase comments:
“This was a substantial purchase for the College. 20-22 Sidney Street is a landmark Cambridge building which, before becoming a major bookstore, was previously home to ‘The Dorothy,’ a famous tea room, dance hall and music venue which hosted the likes of Pink Floyd, Jimi Hendrix, and The Who amongst others. This purchase abuts the existing College estate, which includes properties on Sidney Street, Sussex Street, King Street and Hobson Street.”
Martin Pierce, Bursar of Sidney Sussex College comments:
“We are delighted to acquire this prestigious site, which is a natural extension to our portfolio of retail commercial property in Cambridge. We look forward to working with Cheffins and both Waterstones and Vinyl going forward.”
Darren Hill, Director at Cheffins, who manages the Sidney Sussex portfolio, says:
“This is a significant addition to the Sidney Sussex commercial portfolio and widens the range of tenants within the estate. The acquisition of 20-22 Sidney Street was an exciting project to be involved in and we are looking forward to working with the occupants and bringing them under the Sidney umbrella.”
The purchase was completed in November 2024 and the College was advised by Cheffins alongside Mills and Reeve as legal advisors.
For more information on the transaction, contact Edward Dodson/Darren Hill at Cheffins on edward.dodson@cheffins.co.uk or 01223 271 943 darren.hill@cheffins.co.uk or 01223 271969