Salmon leaps in to regeneration project
A new, multi-million pound light industrial and office development by Salmon Harvester Properties is regenerating a jaded area of Cambridge and will provide much-needed space for Research & Development companies as well as trade park occupiers.
Kings Court, to the north of Cambridge, is well underway at the former Black Bear printing site fronting both King’s Hedges Road and Kirkwood Road, which had been derelict before Salmon made its move.
It is Salmon’s first Cambridge development in 13 years of operation and will have an end value of around £8m. Work is on schedule to be completed by the end of August.
Seven units are being developed with a total of just under 33,000 sq ft being built out.
The industrial units range from 3,959 sq ft to 5,377 sq ft and there is fitted office content in all of the units. All units are available on flexible leaseholds.
There is also a 6m clear eaves height while 66 car parking spaces will be available – gold dust this close to the city, which is just a mile down the road.
A cycle hub is being created close to the main reception areas for heightened security.
Robert Neaverson, associate development director for Salmon Developments plc, believes the high connectivity endemic in the scheme through its superb transport networks and proximity to the new Arbury Park will appeal to both trade park and R & D users wanting a Cambridge badge without Cambridge congestion.
Junction 33 of the A14 is only a mile away, linking into all the region’s primary trade routes, and Neaverson is confident Kings Court will provide a sanctuary away from city log jams for companies currently choked for suitable space in areas such as Newmarket Road and Clifton Road.
He said: “We did extensive market research before opting for this scheme. It is the only speculative development of its type this side of Cambridge.
“If Cambridge does opt for a congestion charge in the city, our development will prove even more attractive.
“We worked extremely closely with city planners before settling on the specification to ensure there was an attractive but productive working environment at Kings Court and also a free flow for traffic passing through.”
There are separate ‘quick in’ and ‘quick out’ accesses at opposite ends of the development to keep trade traffic moving.
While the layout will prove ideal for traditional trade park operators, Andrew Brading of sole agent Savills, says the high office content and light industrial mix would also be ripe for Science Park style Research & Development businesses who may need extra, value-for-money space for storage of products or equipment, for example, on what is an extremely secure site at Kings Court.
“We have had good early interest,” he says. “It is such a rare opportunity to get space of this type and quality so close to the city but so clear of the congestion.”
Salmon Harvester is also active on other major UK schemes and has a £150m war chest.
“We are actively seeking new opportunities in this region and across the UK,” said Neaverson.
Salmon Harvester Properties Ltd was forged by Salmon Developments plc and NFU Mutual in 1994 as an investment fund with a £1 billion property investment portfolio and more than £13 billion of funds under management.
To date, Salmon has completed over £500 million of projects and is currently working on a development programme valued at over £350 million.