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Looking Back

Cambridge has established itself as a key southeast office market in recent years. It is primarily underpinned by the rapid growth of life science and innovation companies, a world-renowned University, a leading hospital, a highly skilled labour force and an established infrastructure network, all fuelled by venture capital and private sector investment.

There is a demand and supply imbalance as technology, and life science businesses seek quality, well-located space to expand and grow. Investors now have a good opportunity to reposition and redevelop assets to meet this demand.

Take-up in 2022 was approximately 320,000 sq ft but could have been well over this if a quality product had been available to let. Regarding offices, Samsung recently pre-let 35,000 sq ft at One Cambridge Square in the Cambridge North cluster, achieving a headline rent of £40.00 per sq ft. Siemens also pre-let just under 30,000 sq ft at Brooklands in the city centre at a rent in the low £ 50.00's.  This is on top of lettings to Dassault (30,000 sq ft - offices) at 22 Cambridge Science Park, Nyobolt (36,000 sq ft 鈥� mid-tech) at Evolution Business Park, and Nuclera (30,000 sq ft 鈥� lab/office) at Mortlock House adjacent to Vision Park, Histon.

Looking Forward

Cambridge has the highest named demand figure in the entire South East with a phenomenal 2 million sq ft of occupier requirements - 70% for laboratory accommodation with varying specifications.  This impressive level of active demand ensures any space under construction will be immediately absorbed until all pipeline development is delivered.

Our development pipeline tracker shows constraints on supply for the next 36 months. Projects like Brockton Everlast's new campus at Cambridge Science Park will then provide wet labs stock in a more sophisticated environment.

All four clusters, city centre, north, south and east, have sites under construction or in planning, ensuring a robust pipeline with varied stock suiting all requirements.

Cambridge South railway station is under construction, due to be completed in 2025 and will provide a vital transport link to support the growth of Cambridge Biomedical Campus and help manage traffic.

An upside for developers and investors is the scope for rental growth. City centre prime headline office rents are being targeted closer to £70.00 per sq ft, with lab rents following suit.