The lack of new build stock has intensified the focus on the best in class of existing stock for businesses looking for new premises. 30,000 sq ft of space was taken up by Dassault at 22 Cambridge Science Park which was the largest single transaction for second hand stock in 2022.
Office space has also been snapped up by businesses looking for premises suitable for conversion to laboratory use driven by the shortage of lab space in Cambridge and the surrounding area. Metrion Bioscience and Sphere Fluidics took space at the Granta Centre while lab conversions also took place at Endeavour House on Vision Park in Histon.
27,630 sq ft of new office space has already been taken up by Siemens at the new Brooklands development which will provide a total of 67,000 sq ft in early 2024 and over half of the 93,000 sq ft currently under construction in One Cambridge Square at Cambridge North is already under offer.
More space is on the way with Railpen pushing ahead with the development of two new buildings which will see the creation of 300,000 sq ft of new space as well as 120,000 sq ft of workspace at a mixed-use scheme at Devonshire Gardens.
To read more about take up in the office space sector in our annual publication, Datapoint, please click here.