Offices & Labs Databook Cambridge - Summer 2023

The Cambridge market saw activity maintained in H1, with both office and lab take up ahead of the same period last year, with a substantial volume also under offer.

The last six months has also seen a further expansion in laboratory requirements, with over 1.2m sq ft now sought against a supply of less than 10,000 sq ft. The delivery of just over 200k sq ft of new laboratory stock in H2 2023 will be welcome, but the majority is already let or under offer.

Given the scale of the stock shortfall, and timeframes for the delivery of further schemes, businesses seeking a new or expanded presence in the cluster will continue to face limited options.