Royal London Asset Management (RLAM) in partnership with XLB Property have secured full planning consent to develop 90,411 sq ft of advanced research and development units.
The new scheme will comprise of 11 units ranging from 4,700 sq ft to 13,900 sq ft specially designed to support a wide range of technology and scientific occupiers. The units have significant built-in flexibility enabling the rapid transformation into advanced manufacturing suites, research and development environments and cutting-edge engineering environments. This phase of development follows the successful delivery and leasing of the first phase Enterprise scheme.
The scheme is targeting BREEAM Excellent rating and will demonstrate the highest ESG credentials. Capacity for 130 fast and slow EV charging points will be included along with approximately 300 cycle spaces to support more sustainable and active modes of transport. The development is designed to align with the rest of the Park which benefits from a the rural setting with an abundance of green space. Additionally, the units will have photovoltaic roof panels and green roofs and will benefit from an upgraded power provision to future proof the site.
Will Hawking – Senior Asset Manager at Royal London Asset Management commented, “We are delighted to have secured planning consent for the next phase of development, particularly in light of the success of Phase I. The breadth and variety of occupiers across tech, life science and industry which has been attracted to the Park is testament to the design ethos and ESG credentials at the core of our development”.
Neil Brown from XLB Property commented, “Securing the planning consent for second phase of advance manufacturing and research buildings at the Research Park is a fantastic achievement for the team and RLAM. We look forward to starting on site shortly and delivering much needed, high quality space to support the growing science and technology community in Cambridge.”
Phil Ridoutt from Savills commented, “We eagerly anticipate the third generation of Mid-Tech Units at Cambridge Research Park. The Park has been at the forefront of development in Cambridge with the Mid-Tech product evolving significantly over the past decade to reflect occupiers’ evolving demands through the innovation in design and materials over that period.”
XLB Property and RLAM look forward to starting on site in the Autumn and delivering scheme in Q4 2023.There remains a further c.6.8 acres of development land at the Park with outline planning consent for a further 211,000 sq ft of office, laboratory and research and development space.
PRC Architecture designed the scheme and Savills, Bidwells and Cheffins are appointed agents over the scheme.