IP law firm joins Darktrace and PwC at Cambridge flagship
Law firm Mewburn Ellis – which specialises in Intellectual Property advice – has agreed a move to the new Maurice Wilkes Building at St John’s Innovation Park, alongside cyber defence stars Darktrace and UK-leading accountancy practice PwC.
Mewburn Ellis, currently at Cambridge Business Park just around the corner, has agreed a 15-year lease and will occupy 6,962 sq ft on part of the ground floor of the five storey building.
Mewburn Ellis LLP was advised by Cheffins while Savills and Carter Jonas are letting agents for the new flagship office HQ building on behalf of St John’s College and developer Turnstone Estates.
On completion in June, the Maurice Wilkes building is set to comprise 64,445 sq ft of Grade A office and R & D space in one of Cambridge’s top business locations within the northern cluster.
Following the deals with Darktrace and PwC last year, 60 per cent of the property is now pre-let with a further 15,331 sq ft under offer; only 11,683 sq ft remains available, with suites starting in size from 3,982 sq ft (369 sq m).
Rob Sadler, head of office at Savills Cambridge, said: “This latest pre-let highlights the significant demand for top quality office accommodation in Cambridge’s R & D cluster and the fact that the speculatively built Maurice Wilkes building is almost fully let is testament to this.
“St John’s Innovation Park is renowned for attracting firms from startups to multinational corporates and this collaborative business environment is the ideal location for Mewburn Ellis to continue to thrive within Cambridge.”
Savills plc has just announced an 11 per cent increase in global group revenue ro £1.6 billion with statutory profit before tax up 13 per cent to £112.4 million.
Sadler said: “This year Cambridge will also see more than 300,000 sq ft of speculative industrial stock built – the first wave to be completed in more than a decade – which will see further R & D capability created in both the northern and southern clusters.
“This high level of activity has also attracted considerable investment into the region from both overseas and domestic buyers resulting in one of the strongest years on record for commercial investment volumes.
“Our residential business in Cambridge also went from strength to strength, selling more houses in 2017 than in any previous year despite difficult trading conditions caused by Brexit and increased stamp duty on investment properties and second homes.”