Our View on Offices and Labs - Spring 2020
Take up across the Oxbridge Arc was 1.4m sq ft in 2019, above the 10 year average, bolstered by a particularly strong year of activity in Cambridge (805,000 sq ft).
The demand for new office and labs floor space has been particularly strong, with more than 53% of the year’s take up targeting grade A space, the highest proportion on record since construction started on the new 500,000 sq ft AstraZeneca facility at Cambridge Biomedical Campus in 2015.
Activity in the other main Oxbridge Arc locations was held back by shortages of prime space. A total of 590,000 sq ft of new office and labs space was available at the end of 2019, with a further 600,000 sq ft under construction. More than 50% of ready to occupy grade A space is in Cambridge, whilst the majority of that under construction is already committed.
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