Two former CB Hillier Parker directors are taking a £60m gamble on the future of Cambridge’s R&D market.
Carisbrooke Alliance, set up by former investment agents Mark Barnwell and Mike Tomkinson along with Carisbrooke Investment’s Neil Young and Nic Rumsey has paid £2m for 3is 64-acre Helions Park in Haverhill, near Cambridge.
The company plans to develop it into a 1m sq ft office and industrial park with an end-value of £55m-£60m. Carisbrooke Investments was formed in 1998, to take advantage of the boom in R&D parks around Cambridge and the two CBHP high flyers teamed up with it last year.
However, since late 2000, TMT companies – such as Psion, Tadpole Technologies and ARM Holdings – have either retrenched or stopped expanding in the area and local agents are predicting that more secondhand space will hit the market.
For more on this story, see this Saturday’s Estates Gazette.
EGi News 01/02/01
