Mixed-use developer Socius and railway pension scheme Railpen have formed a partnership to develop a £500m GDV office scheme in Cambridge.
The development, called Botanic Place, has planning consent for around 500,000 sq ft of workspace and was designed by architectural firm AHMM. As well as two proposed office blocks, which the partnership will develop, the site includes an existing 70,000 sq ft office building called Botanic House, developed by Pace Investments in 2013.
The overall scheme, which also includes the former Flying Pig pub, will therefore offer at least 570,000 sq ft of office space when completed.
Railpen bought the site from Pace Investments last summer. Previously consented plans by Pace included a pub, café and restaurant at ground-floor level, as well as a public square. They were approved on appeal in March 2022.
Socius worked closely with Railpen on the acquisition and will deliver the scheme, with the aim of developing the most sustainable office in Cambridge. Works are expected to commence in autumn 2023.
Barry Jessup, managing director of Socius, said: “Cambridge is at the heart of UK innovation and has huge potential for growth but is impacted by an undersupply of high-quality workspace. Botanic Place will be a landmark commercial development that will harness Cambridge’s vast intellectual capital and align with its vision to achieve net zero by 2030.”
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