Students may soon be able to enjoy the delights of the famous Fitzbillies Chelsea bun, as the bakery is due to re-open under new ownership.

There was widespread disappointment across the university and among alumni after the bakery closed down in February this year, including Queens’ College alumnus Stephen Fry, who tweeted: “No! No! Say it ain’t so - not Fitzbillies? Why I tweeted a pic off one of their peerless Chelsea buns but a sixmonth ago [sic]”.

The Official Receivers have sold the name and some of the fittings, meaning it will re-open with its original name in its original location on Trumpington Street.

Chris Blencowe, Bursar for Pembroke College, which owns the property, said: “We have certainly had strong interest from prospective tenants wanting to trade under that name and in the traditional format.”

Former shop-owner Penny Thompson said: “I hope, more than I can say, that the new owner will be able to keep all the things Fitzbillies was loved for, such as the Chelsea buns.”

She added that she hoped the new owner will be able to do “whatever new things are needed to make it prosper”, since the shop closed down due to the effects of “very difficult economic times”.

Fitzbillies has long been an important establishment in Cambridge, dating back to the early 1920s. Throughout its history, it has been very popular among students and dons.

It is not known who has taken over the business, but it is hoped that the shop will reopen very soon.