Developer launches £25m business park
Turnstone Estates has launched Iconix Cambridge, its 115,000 sq ft business park development on London Road, Pampisford, to the south of Cambridge.The £25 million development will comprise seven high-quality business space units, ranging from 15,000 to 22,000 sq ft, set on a 9.3 acre site. The scheme currently comprises two units, totalling 28,935 sq ft, let to Sareum and Xention Discovery.
Speculative construction work has now started on Iconix One, a 15,400 sq ft, two-storey high-quality business space unit, which will be the third unit at the scheme, previously known as Pampisford Park.
Completion of Iconix One is scheduled for November 2006. Phase 2 of Iconix will comprise approximately 70,000 sq ft of additional business space. Construction of this phase is scheduled to commence in 2007.
Chris Goldsmith, managing director of Turnstone Estates, says: “The scheme is set in a prime location on the favoured south side of Cambridge close to junction 10 of the M11.
“It will provide flexible, high-spec purpose-built facilities for forward thinking businesses set in landscaped grounds.
“We expect to attract office and R & D occupiers, with the potentially to create over 500 jobs in the Cambridge area. ”
Januarys (01223 326805) and Jeffersons Commercial (01223 315716) are joint letting agents. Will Mooney, partner at Jeffersons says: “The timing of this development is extremely good. There are now an ever decreasing number of stand alone headquarters style buildings in excess 10,000 sq ft and there has been a steady increase in demand for quality office buildings, especially to the south of Cambridge.
“Iconix One is of a high quality specification and we expect to receive strong levels of interest when it is formally launched in September. “
Iconix One is being built by Hutton Construction and funded by Anglo Irish.
Turnstone Estates has purchased the adjacent five acre site, earmarked for phase 2 of Iconix, along with Langford Arch which comprises 19,203 sq ft of income-producing industrial and office space, from Eastern Counties Leather for £2.95 million.
Established in 1989, Turnstone is one of the most active and dynamic property companies in the south east of England.
Existing schemes in the Cambridge area include Cambridge Leisure and the new Cambridge County Court on East Road, Cambridge.
Specialising in the office, retail and leisure sectors, Turnstone is both a development and investment company, combining professional expertise in the property industry with independent financial resources and project funding.