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Electronics Philips sets Cambridge office rental record
Electronics Philips sets Cambridge office rental record | Philips sets Cambridge office rental record |
| Written by Tony Quested | |
| Wednesday, 19 March 2008 | |
 Cambridge 101 is due for completion in June 2008 It is the first letting for the masterminds behind the £17m development – Hermes Real Estate and Exemplar Properties. Dutch owned Royal Philips Electronics has taken a 10-year lease on behalf of Philips Research, which is to relocate its entire UK operation to Cambridge in an effort to bring its scientists closer to one of the world’s foremost centres of R & D expertise. Terry Doyle, senior vice president, Philips Research said: “2008 marks an exciting year for Philips Research UK. We pride ourselves in being at the forefront of innovation and research. “Ensuring we maintain this position drives our need to provide our talented scientists and technology experts with the best possible environment. We believe that 101 Cambridge on Cambridge Science Park offers this – an ecosystem where our work can really flourish.” Cambridge 101 is due to complete in June 2008. Letting agent on the scheme is Bidwells. 101 Cambridge provides the largest and best specified office space in Cambridge and is the first speculatively built building on the Science Park for eight years. It is also the biggest speculative project in the city for over 15 years. Philips Research will initially place up to 50 scientists in Cambridge. Headquartered in the Netherlands, Royal Philips Electronics now employs over 128,000 people in more than 60 countries, generating sales of £20bn. The company has been at the forefront of some of the most important technological innovations of the last 100 years including the introduction of the first compact audio cassette tape and development of the world’s first compact disc. It is now a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. Philips Research is staffed by around 1,800 people worldwide, working from laboratories in six countries: The UK, Germany, the Netherlands, India, the US and China. Currently based at Redhill, Surrey, where it has been downsizing for several months, Philips Research will move to Cambridge as soon as possible this year. “Cambridge is the obvious choice as it is recognised as one of the top global innovation centres and is the European R & D hub for many multinational companies,” said a spokesperson. “The location provides invaluable opportunities for collaborations with the innovation community. “It allows the scientists to work alongside other like-minded businesses and offers better facilities, access to better people and investment.” Founded in 1914, Philips Research has since expanded the scale and scope of its activities, which has led to more than 130,000 patent and design rights, and the publishing of many thousands of technical and scientific papers. In healthcare Philips Research is particularly strong in cardiovascular X-ray, digital X-ray and ultrasound, patient monitoring systems, nuclear medicine, cardiology systems and critical care systems.
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