British Land invests in Cambridge’s science and innovation sector
Investing in innovation sectors and campuses is a core part of our client's business strategy so when the opportunity to purchase Peterhouse Technology Park was identified, we advised them throughout the acquisition process.
We drew upon our in-depth knowledge of the science and technology sector to advise them on the investment and presented comprehensive data to demonstrate the potential of the site, in addition to rental forecasts and future potential performance.
The site forms a core part of Cambridge’s science community and is the HQ for technology company, ARM. The four buildings (totalling almost 140,000 sq ft) are fully let to ARM with a weighted, unexpired lease term of 11 years and 10.1 years to breaks, generating a current total net income of £3.33m p/a, presenting attractive reversionary potential. British Land acquired the asset for £75.145m, reflecting a net initial yield of 4.15%.