OUR VIEW ON
CAMBRIDGESHIRE BUSINESS SPACE

A new index compiled by accountants Grant Thornton has identified Cambridge as the most vibrant city in England.

The index is dominated by towns in the South East of England, withCambridge and South Cambridge being ranked ahead of Reading
(39th), St. Albans (11th) and all London boroughs.

The index, which looks beyond the usual economic measures of prosperity (GVA) and employment, includes additional considerations like the quality of life, levels of creativity and sustainability of the local environment to provide the vibrancy measure.

 

Proposed reopening of Varsity line receives government support 

The proposed re opening of a rail link between Cambridge and Oxford has been given fresh impetus with the promise of £110m of funding in the Chancellor's latest Autumn Statement. The funds will be used to accelerate the building of the Oxford to Bedford link and explore the options for extending the link from Bedford to Cambridge.

The ‘new’ Varsity line will also connect Milton Keynes and Aylesbury once completed.

 

Life Sciences seminar illustrates growth potential for UK industry

At a recent Life Sciences seminar organised by Bidwells and Creative Places, Doug Cuff of BioMed Realty drew comparisons between the US and UK Life Science real estate markets, which identified the potential for further growth in the UK.

The Cambridge Laboratory market has grown by more than 500,000 sq ft (41%) over the past five years. This will increase by a further 500,000 sq ft when the AstraZeneca Campus is completed in 2018/19. 

 

Development of 50/60 Station Road to be funded by Aviva Investors

The 163,000 sq ft speculative office scheme at Brookgate’s CB1 mixed use development, adjacent to Cambridge railway station, received a funding boost when Aviva agreed to provide £87m of development finance.

Aviva have also committed to an ongoing funding role at the CB1 scheme when further office accommodation is brought forward.

 

THE FACTS

Office market take up exceeds 500,000 sq ft for fourth successive year.

The laboratories market recorded its second highest annual take up figure, 288,000 sq ft, in 2016.

£37sqft

Office prime rental values reach record level

 

 

 

 

Industrial supply falls to just 5% of total stock, with 51% in poor quality space.

Prime industrial rents forecast to increase by 4.6% per annum over next five years.

41%

The increase in total occupied stock in the Cambridge Laboratories market since 2011

 

 

 

 

 

Cambridge Office

Office supply falls to lowest level in 15 years, with availability rate down to 8.5%.

Office Graphs2

 

Cambridge Industrial

Lack of grade A supply pushes prime rents to £11.00 per sq ft, 7.3% higher than end 2015.

camb 2

161122 Plot 26 22 25  Design Development Low Res Part 2 2

 

Cambridge Laboratories

Two 100,000 sq ft transactions at Cambridge Biomedical Campus dominate activity in second half of 2016.

camb 3

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