Developer First Base and investment manager RPMI Railpen have teamed up to buy a Travis Perkins depot in Cambridge to redevelop into a £155m mixed-use scheme.
The duo is drawing up plans for a 250,000 sq ft neighbourhood at the three-acre, city-centre site, which was bought for an undisclosed sum. It will include offices, build-to-rent apartments, leisure and community spaces set around new public gardens, and a cycle hub.
Planning is expected to be submitted by mid-2021.
Travis Perkins will relocate to a new branch in Cambridge.
Barry Jessup, director at First Base, said: “Our vision is to create a permeable mixed-use neighbourhood set within new public green spaces, opening up new pedestrian and cycle routes in the city centre.”
Richard van Lente, senior asset and development manager at Railpen, said: “While providing high-quality public realm for the community, the mixed-use scheme will also hold strong environmental and sustainable credentials.”
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