Ricardo stays local with Science Park move
Automotive technology specialist, Ricardo, has taken almost 19,000 sq ft of office and R & D space at Cambridge Science Park – a transaction that keeps the business in the region.
Property agents behind the deal are claiming it as the largest Cambridge office deal of the year.Ricardo UK specialises in technology, product innovation, engineering solutions and strategic consulting to the automotive, transport and energy industries.It has taken the majority of Unit 400, a headquarters building on the latest phase of the Science Park. The company is relocating from The Westbrook Centre on Milton Road.Colliers CRE acted for Ricardo. “Cambridge Science Park is a prestigious address for any technology company and so Ricardo was delighted to be able to find a suitable new home on the park that could accommodate its growing business,” said Michael Jones of Colliers CRE.Ricardo has been lookinmg for a new base for over a year. Business Weekly reported in June 2008 that it had appointed Colliers CRE to find the company a new home in Cambridge. Otherwise it was facing the prospect of having to move out of the area.Ricardo was seeking around 20,000 to 30,000 sq ft of office and lab space that could also accommodate some vehicle workshops.Steve Montgomery, Ricardo’s director of control systems software, told Business Weekly: “We are keen to stay in Cambridge so we’re hoping that Colliers CRE can find us the right building in the city or on the edge of it.“We need some workshop space as we do have to bring cars in for testing as part of our design process. Our plan is to move at some point in 2009.”The Cambridge operation is Ricardo’s main design centre for ‘hybrid’ vehicle control systems – systems for state-of-the-art vehicles fitted with conventional engines plus electric motors that help to improve energy efficiency.