Offices & Labs Databook Cambridgeshire - Summer 2022
The life science and technology sectors continue to drive very strong floorspace demand across the Cambridge market, with office and lab requirements standing at 2.2m sq ft, up a fifth in the last six months.
No available laboratory floorspace in the face of 1.2m sq ft of requirements
A zero availability rate is a rare occurrence in any property market, but this is the challenge facing the 46 companies seeking laboratory floorspace in Cambridge today.
The shortage of space constrained take up during the first six months of 2022, while requirements have accelerated, reaching nearly 1.2m sq ft. Robust rental growth will continue.
The Cambridge office market has also seen increased demand, driven predominately by the technology sector. The convergence of life science and tech is a major contributor to this. Rents for quality space are accelerating sharply.
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