Bidwells’ latest analysis indicates Cambridgeshire remains a magnet for science and technology companies that are looking beyond the current Brexit uncertainty. Their analysis of the Cambridge office and laboratory market finds that 0.6 million sq ft of new space will be complete during the first half of 2019. This is the
The ground has been broken on a new £300 million state-of-the-art physics laboratory and shared facilities hub at the University of Cambridge. Bouygues UK was joined by members of the university to celebrate the beginning of construction. “This is a great step in the development of physics research and learning at
A building in the heart of Unity Campus, South Cambridge, is to be transformed into a new £20 million multi-let business space by architect firm NBBJ. The project is the first phase of Howard’s Group investment to create a new campus style business park in the area. The Works is
Iceni Homes and housing developer Lovell will begin construction work this month on a £6.75 million regeneration project for charitable housing association Hundred Houses Society in Cambridge. The scheme will regenerate Hundred Houses’ first ever neighbourhood – Eastfield in Chesterton, Cambridge. Hundred Houses is replacing 26 existing homes with 50
BDC 319 : Aug 2024
Bidwells’ latest analysis indicates Cambridgeshire remains a magnet for science and technology companies that are looking beyond the current Brexit uncertainty. Their analysis of the Cambridge office and laboratory market finds that 0.6 million sq ft of new space will be complete during the first half of 2019. This is the highest level of new supply in over a decade. This perhaps sounds alarm bells given the apparent slowdown in demand for labs and offices combined to 1.154 million sq ft at the end of 2018. However, despite Brexit fears, the UK’s BioTech sector continues to thrive and Cambridge has been at the centre of growth in the UK’s BioTech sector over the past five years. Investment in the city continued to flood into industry, with £1.6bn raised in the first eight months of 2018, already 33% ahead of the figure raised over the whole of 2017. University of Cambridge tops the list of capital raised by spin out companies as research undertaken by Global University Venturing has revealed that the University of Cambridge has raised the greatest capital investment from its spinout companies amongst the world’s universities. Between 2013-17, spinouts from the University of Cambridge raised £1.75bn, 20% more than the second place Stanford University £1.43bn. University of Cambridge Enterprise reported a further £300m investment to 16 spinouts in 2018, although the final year figure is expected to be in excess of this figure. New Digital Strategy for Cambridge funded by CPCA Cambridge & Peterborough Combined Authority has provided initial funding to Cambridge Wireless and Anglia Ruskin University to develop an integrated and impartial digital strategy, helping to promote the region’s strong technology sector. Cambridge already has a significant representation in the growing Artificial Intelligence sector, with Apple, Microsoft, Amazon, ARM and Samsung all having AI research teams based in the city. According to Bidwells’ data, 85% of space is pre-let or already under offer. This, in theory, leaves a total of 91,000 sq ft available during 2019 with an expectation of more than 50% of space to be let shortly after practical completion. This pre-letting activity, combined with a slight increase in take-up in 2018 compared with 2017, underpinned a further increase in rents. During the second half of 2018 the prime office rent rose to £41.50 psf, with increases also seen for all grades of second hand space. The prime rent for laboratory space also rose in 2018 to £34.50 psf. These latest lettings figures are consistent with the findings of research undertaken by Bidwells on the location and property requirements of major R&D companies. The research, undertaken by YouGov on their behalf, underlines the importance of location. The ability to recruit highly skilled staff, combined with the requirement to be near the centre of research ideas and innovation are the determinants of location for such businesses. With a global outlook these companies will consider location from an international perspective and therefore are compelled to be exacting in their requirements.
The ground has been broken on a new £300 million state-of-the-art physics laboratory and shared facilities hub at the University of Cambridge. Bouygues UK was joined by members of the university to celebrate the beginning of construction. “This is a great step in the development of physics research and learning at the University of Cambridge. We look forward to moving in to our new facilities and opening our doors to the wider research community and the public to increase understanding and foster discovery,” commented Professor Andy Parker, Head of Department of Physics at the University of Cambridge. The development will provide a purpose-built centre for world-leading physics research, bringing together all of the Cavendish Laboratory’s research groups under one roof. Located at the West Cambridge campus off Madingley Road, the flagship building of the development will be named the Ray Dolby Centre to recognise a £75 million gift from the estate of sound pioneer Ray Dolby. It will house a range of laboratories, offices, clean rooms, workshops and multiple lecture theatres. “Bouygues UK and our sister company Bouygues Energies & Services have been involved from the start on this exciting scheme, working alongside the University of Cambridge’s existing project team to develop proposals for a new world-class laboratory. It is exciting to break ground on this project that will see us bringing innovation, a collaborative approach and our technical expertise to create a new home for major academic research,” said Fabienne Viala, Chairman of Bouygues UK and UK Country Manager for Bouygues Construction. The new facility is expected to be completed in 2022.
A building in the heart of Unity Campus, South Cambridge, is to be transformed into a new £20 million multi-let business space by architect firm NBBJ. The project is the first phase of Howard’s Group investment to create a new campus style business park in the area. The Works is NBBJ’s scheme that aims to provide 63,000 square feet of flexible, modern business space, incorporating the pre-cast concrete frame of the original building. The scheme is expected to be completed in late 2019. “The goal at The Works is to create an environment where dynamic, growing businesses can thrive. South Cambridge has a huge number of occupiers looking for something a little different to the institutional office stock available, that will help them to both recruit and retain talent and inspire and engage their workforce. With excellent train services, cycle routes into central Cambridge and easy access to the main road network, this is the perfect campus-style office location,” said William Jewson, Howard Group’s Development Director. “The Works is the first stage of our masterplan for Unity Campus. The ultimate aim is to create a new kind of business park, with striking architecture, grade A infrastructure, a pedestrian and cycle friendly circulation space and excellent amenities both internally and externally. We would love to talk to any businesses interested in making the move into something a little more exciting than the more conventional business park,” William added. NBBJ is a different kind of design practice, one that helps its clients drive innovation by creating highly productive, sustainable spaces that free people to live, learn, work and play as they were meant to. Founded in 1943, NBBJ has locations in Boston, Columbus, Hong Kong, London, Los Angeles, New York, Pune, San Francisco, Seattle and Shanghai. Its global network of “renaissance teams” includes more than 700 researchers, strategists, nurses, architects, anthropologists, planners and interior designers who generate ideas that have a profound and lasting impact.
Iceni Homes and housing developer Lovell will begin construction work this month on a £6.75 million regeneration project for charitable housing association Hundred Houses Society in Cambridge. The scheme will regenerate Hundred Houses’ first ever neighbourhood – Eastfield in Chesterton, Cambridge. Hundred Houses is replacing 26 existing homes with 50 new build houses. Partly funded by the Homes & Communities Agency, work is expected to be finished by March 2018. Houses in the Eastfield neighbourhood, developed by Hundred Houses Society in 1935, are in need of significant upgrades to insulation and energy efficiency. While the original site included just three-bedroom homes with big gardens, the regeneration has a mix of property sizes, all designed to the ‘Lifetime Homes Standard’, which meets the needs of those with mobility issues. Mary Gibbons, Hundred Houses Society Chief Executive, commented: “We are pleased to be able to regenerate this neighbourhood in a way which reflects the needs of the customers both now and in the future. This is an exciting development which delivers more truly affordable homes for Cambridge.” Meanwhile, Phil Murton, Iceni Homes interim managing director, added: “We are delighted to be starting the work on site for this exciting project that we have been working with Hundred Houses on for the last couple of years. A true example of partnership working, the completed scheme will provide high-quality new homes in a modern setting, and is one of a number of projects we are currently delivering for Hundred Houses in Cambridgeshire.” Lovell regional director Simon Medler said that this important regeneration project will create much-needed brand-new affordable properties, built to modern standards, with a strong focus on energy efficiency. Last month it was announced that Iceni Homes will relocate to Coppice House, Suffolk, which has been constructed to the latest energy efficiency standards, from its current premises in Kempson Way, while some ground floor space will also be made available for other local businesses to lease.
