Property developer Suon has secured a 48.5ha (119.85 acre) site on the edge of Cambridge to build a £100m research park to rival the city’s existing Science Park. Suon plans to pump £3.5m into the first phase of the scheme.
The land, which had an asking price of £5m, was bought from LPA receiver Michael Parkes, acting for Barclays Bank. The property was originally owned by David Steele & Sons.
Outline planning consent exists for around 5,574 sq m (60,000 sq ft) of B1 R&D space on 32.4ha of the site. Another 16.2ha has been set aside for a wildlife park and recreation facilities.
Suon is now looking for pre-lets at an asking rent of about £129 per sq m (£11.98 per sq ft). Rumsey & Partners is advising Suon on the development.
EGi News 03/07/96
