On behalf of Savills Investment Management (Savills IM), Savills and joint agents Cheffins have completed a series of lettings to three new occupiers – CRFS Ltd, Xampla and 4T Medical – at the market-leading Bourn Quarter mid tech scheme in Cambridge.
CRFS, the spectrum monitoring and geolocation business, has agreed a new long term lease at Unit 1, a standalone mid tech facility comprising approximately 23,716 sq ft. CRFS will also incorporate a substantial fit out adding a further 2,185 sq ft of first floor office and research space.
At Block 10, which comprises six high-specification small business units, Xampla, a biodegradable material manufacturer are to occupy two units totalling 4,300 sq ft. A further three units totalling 5,911 sq ft have also been leased to 4T Medical, who supply cosmeceutical and medical aesthetic products.
There is only one unit remaining at Block 10, Unit C, which offers 1,614 sq ft and is available at a quoting rent of £26,631 per annum. The specification includes 7m eaves height, PV power allocation and electric car charging points, suitable for mid-tech, lab and R&D occupiers.
There are three further units remaining in phase one, Units 4-6, with the availability to combine the units to give 14,460 sq ft. The specification includes 8m eaves height, PV power allocation, 3 loading doors, up to 18m yard depth and electric car charging points.
Since its completion in March 2022, phase one at Bourn Quarter is now 90 per cent occupied, following a series of successful lettings. Existing Tenants on the Park include Cambridge Design Partnership, Tsunami Axis, Hypro and Vescor.
Philip Ridoutt, Director in the Commercial Agency team at Savills Cambridge, comments: “We are delighted to welcome the latest occupiers to Bourn Quarter, which provides high quality mid tech units that have been developed to offer exceptional sustainability credentials. With a lack of this high quality stock in the market, the units are being snapped up quickly by a diverse range of life science and technology occupiers and we expect robust demand for the upcoming Phase 2 development.”
Luke Davenport, Associate at Cheffins says: “Units at Block 10 form an important part of the first phase of construction at Bourn Quarter. The ethos behind these ‘starter’ units is to encourage small businesses to make the jump from the research stage into manufacturing and trading, and I expect that in years to come we will see these companies prosper and expand into some of the larger units across the next two phases at the scheme. Bourn Quarter has quickly become one of the most sought-after locations for a range of sectors, with R&D, tech and laboratory businesses leading the charge. We expect to see high levels of interest in both the remaining unit on Block 10 and throughout phase two of the scheme. Phase two is set to continue the momentum achieved at phase one, attracting market-leading tech, R&D and precision manufacturing businesses.”
The site was purchased in January 2018 by Savills IM on behalf of a pension fund, and since then Savills IM has been working with Aitchison Developments as Development Manager. Bourn Quarter is a short distance from Cambridge and Cambourne, which offers excellent local amenities, including a gastropub, restaurants, shops and hotels.
Phase two of the scheme is currently in preparation, with groundworks currently underway. Construction is due to be finished Q4 2024, for six more buildings ranging from 8,500 sq ft to 32,000 sq ft. Phase two will be set to benefit from strong transport links, particularly following the upgrading of the A428 between the Black Cat roundabout and Caxton Gibbet.
For further information, contact Luke Davenport at Cheffins on luke.davenport@cheffins.co.uk