Any commercial or community organisations interested in purchasing the former Mill Road Library now have until 12 August to submit their bid for the historic building.
The extended deadline ties in with the six-month Asset of Community Value (ACV) period and Cambridge City Council have confirmed the ACV moratorium deadline is 12 August.
Mill Road Library has been registered as an Asset of Community Value (ACV) following representations from the community. This process is managed by Cambridge City Council.
ACV status ensures local community organisations are informed of the council’s intention to sell the property. This allows community organisations six months in total to demonstrate their bid – but will not determine who can buy the building or the price. The council has already received strong interest from both community and commercial bidders.
Cllr Ros Hathorn, Chair of Cambridgeshire County Council’s Assets and Procurement Committee, said: “There has been a lot of interest in this iconic building in the local area. In the spirit of the ACV process, we want to allow everyone the full ACV timeframe – six months, so best and final bids for everyone will now be 12 August, when the ACV moratorium ends. We hope this allows the community and commercial organisations time to submit their bids.
“The committee will consider environmental and social considerations, as well as the financial offer when reviewing the bids. We look forward to finding a new guardian for this listed building.”
The bids will be assessed and considered by councillors at the Assets & Procurement Committee later in the year.
The property is marketed by Gerald Eve, with a guide price of £700,000.
The site is being advertised again after the previous preferred bidder decided not to continue with their proposals for a new charity HQ.
The Victorian former Mill Road Library is a unique Grade II listed building in central Cambridge with huge character. The library closed in 1996 and the building has been leased to various community groups over the last few years.
The ACV timeframe is available on Cambridge City Council’s website: Right to Bid scheme: Assets of community value - Cambridge City Council
Anyone interested in finding out more information or making a bid should contact Tristan Ball (07825 280910, tball@geraldeve.com) or Ben Gilbey (07393 764732, bgilbey@geraldeve.com) at Gerald Eve agents.
Assistance can be provided in preparing community bids and making the necessary notification by emailing right-to-bid@cambridge.gov.uk
More information on the premises can be found at: https://www.geraldeve.com/properties/?propertyid=24746
