Science Village, Chesterford Research Park

CLIENT

• Aviva Investors & Advisors (Landlord)
• Churchmanor Estates (Developer) 

CLIENT INDUSTRY

• Property Investor

SERVICES PROVIDED

• Market Consultancy
• Agency

LOCATIONS

• Chesterford, Cambridge

SIZE

• 26,000 sq ft GIA laboratory leasing and asset management (16 suites)

DIVISION INVOLVED

• Commercial Agency

DATE

• 2012 to present

CHALLENGE
Speculatively developed, with the benefit of market knowledge and recommendations from Savills and a joint agent, the building comprises 16 separate (but con-joinable) fully fitted laboratory suites to cater for young biotech and life science firms. 

SOLUTION
Together with a joint agent, Savills have leased all units over the course of the last 9 years accommodating for the growth and contraction of occupiers, and welcomed a number of new occupiers to the Park.  This has involved an in-depth knowledge of the building, local markets and close collaboration with Park occupiers. 

RESULTS
Rents have increased from £28.00 psf to in excess of £40.00 psf and a number of new occupiers have come to the Park, many of which have grown and in some cases relocated to larger laboratories on the Park.

TESTIMONIAL
Julian Cobourne of Aviva Investors commented: “We have been delighted with the performance of this building.  It has acted as an excellent platform for developing businesses on the Park and we credit the agents’ in-depth knowledge of the markets and forward thinking allowing this to remain fully occupied for a number of years.”