The Crown Estate unveils Cambridge Business Park redevelopment plans, with new offices, labs, homes, leisure and retail space
The Crown Estate has unveiled plans to revamp Cambridge Business Park, delivering more than 4,000 new jobs, more than 250 homes and new leisure, retail and public spaces.
A public consultation is to start later this month on the mixed-use regeneration project, which will deliver new office and lab spaces for start-ups and established businesses to bolster the city’s science, innovation and technology sectors.
Subject to planning consent, construction of the redeveloped park could begin in 2026 with a phased approach, and the new destination could be open and operational by 2030.
The Crown Estate estimates the gateway site in north-east Cambridge has a potential Gross Development Value (GDV) - that is, the market value of the completed scheme - of £1.5billion.
The vision is to contribute towards the creation of a ‘globally significant innovation district’ by establishing an ‘inclusive destination, connecting ideas, people and industries that facilitate important science innovations with tangible social impact’.
The redevelopment plans are in their infancy, however, with the new masterplan at the very early stages of design. The consultation will inform the development of the proposals for the site, which currently features 12 buildings across 20 acres, providing about 325,000 sq ft of commercial office space only.
The Crown Estate says it wants to create a biodiverse innovation-led destination, comprising a mix of retail and leisure spaces, a new high street, ‘science on show’ focused lab buildings and office space and homes.
A ‘no borders’ ethos is envisaged to open up the site, improving accessibility and connectivity to Cambridge North station and the surrounding science parks, providing opportunities for young people and the local community to enjoy the facilities and access STEM-focused educational opportunities.
Dan Labbad, CEO at The Crown Estate, said: “The Crown Estate is investing where it can have the most meaningful impact in addressing areas of national need, meeting local challenges and realising opportunities. Our vision for Cambridge Business Park is to create an inclusive and connected place that is industry leading in terms of sustainable and innovative workspace.
“Working with government and our partners, we intend to contribute to the UK’s science, technology and innovation sectors’ success on the global stage, acting as a catalyst for innovation and economic growth, while delivering a community of socially-conscious and environmentally focused business leaders.
“We are confident Cambridge Business Park will play a pivotal role not only in enabling SMEs to scale up, but also in connecting and convening the brightest minds and organisations to innovate with impact, and support our wider aims of improving planetary health.”
The Crown Estate, a major landowner, had recent partnerships with Great British Energy to accelerate the deployment of renewable energy and with Pioneer Group and Oxford Science Enterprise to deliver a new 100,000sq ft life sciences, technology and innovation space in the heart of Oxford.
It intends to spend up to £1.5 billion in the science, technology and innovation sectors nationally over the next 15 years and sees Cambridge - which it describes as Europe’s technology cluster, with more than 60,000 people working in 5,300 knowledge intensive businesses - as well-placed to capitalise on the investment.
Cambridge Business Park is home to companies including Redgate Software, Qualcomm, Handelsbanken., Price Bailey and 1spatial.
