BioMedTech duo take major space in flagship Cambridge building
Biostrata Ltd and Nasdaq quoted GW Pharmaceuticals have taken over 7,300 sq ft of prime office space at Endurance House on Vision Park in Histon, Cambridge.
The CHS Group has let the ground and first floors of the East wing to the businesses.
Let through Cheffins, the companies have agreed to take over 7,329 sq ft between them following the relocation of Stobbs and One Group. Owned by The CHS Group, Endurance House is in a well-regarded edge-of-city location and comes with high specification accommodation along with car parking spaces. The companies have agreed leases at over £26 per square foot.
Edward Dodson, director at Cheffins says: “In general, the market on the northern fringe of Cambridge has been subdued, as illustrated by the lack of activity or deals on the Cambridge Science Park and the Cambridge Business Park.
“These deals buck this trend and show that demand within the current climate is highly-focused. There is a localised need for space as can be seen by these two lettings going to companies within 100 yards of the building.
“We expect these types of deals to continue in Cambridge and the surrounding area as the market still sees activity which has been consistently underpinned by a lack of stock in the correct locations.
“Despite the shadow of Brexit we are still seeing agreed leases and the standard take-up rates for office space which we expect to continue over the next six months; however we may find that companies look to take shorter term agreements until the political climate settles.”
Martin Dickson, sales and marketing manager, The CHS Group, says: “As two tenants ended their lease terms within a short space of time, there was a concern we would struggle to fill the space quickly and to such good tenants.
“Edward Dodson and the Cheffins team have been extremely professional and to discover such strong companies so efficiently has really helped. We look forward to working closely with both Biostrata and GW Pharmaceuticals plc over the coming years.”
Biostrata Ltd, which is a life science marketing specialist, was previously located in serviced offices in Compass House on Vision Park, whilst GW Pharmaceuticals plc, which develops and delivers rigorously tested and regulatory approved cannabis-derived medicines, was in need of additional accommodation in addition to its offices in Sovereign House, also on Vision Park.
Clare Russell PhD, joint managing director at BioStrata, comments: “BioStrata has been based in northern Cambridge since 2014, connecting life science companies in the city, the UK and internationally with their customers.
“I’m excited that our growing team will be able to continue to thrive at our new home in Histon. All of us are looking forward to welcoming our media contacts, clients and suppliers to Endurance House over the coming weeks.”