Mark Glatman’s Abstract Securities and Cambridge college Peterhouse have bought a 9.2-acre site in the city to develop a £200m office scheme.
The developer plans to speculatively build a 300,000 sq ft office on the plot. The site, currently comprising open farmland and zoned for business use, is adjacent to Peterhouse Technology Park and just 2.5 miles from the railway station.
Glatman said: “This is a location which we have followed closely for many years and, against a backdrop of so much uncertainty in the world today, we have no hesitation in committing to build here speculatively at the current time.
“Our blend of occupier-focused skills, and tried-and-tested delivery platform, means that we can quickly deliver first-class space into a unique market and befitting its highly skilled workforce. We believe Cambridge will be a key engine room for growth as our economy recovers over the coming years.”
Scott Brownrigg has been appointed to design the scheme.
Bidwells advised Abstract and Peterhouse on the acquisition; Cheffins acted for the vendor, the Wright’s Clock Land Charity.
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