Our View on Cambridgeshire Offices and Labs - Summer 2020
The Cambridge office and laboratory market continued to see lettings throughout the lockdown period, with the life sciences sector dominating activity.
Combined office and laboratory take up was 130,000 sq ft in H1 2020, with some deals and requirements delayed or deferred by COVID-19. However, 145,000 sq ft of office and lab space was under offer at the end of June and requirements remain in line with that seen prior to the arrival of the pandemic.
SMEs were particularly active in the lab market in H1 and have driven a sharp expansion in requirements going into the second half of the year. This will present challenges in a market experiencing an availability rate of just 3.5%.
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