Boston research firm leads the charge to Cambridge
Property adviser Savills reports a fresh surge of interest in Cambridge from American companies and investors.
The main charge is being led by Life Science players but other technology interests are also represented, according to Rob Sadler, head of Savills’ Cambridge office.
One rock solid approach which has gathered pace in the last week has come from a Boston area life science research enterprise keen to open a dedicated facility in Europe’s leading BioMedTech cluster.
Sadler says a lot of the interest being shown by investors and businesses is emanating from America’s two premier biotech regions – principally Boston but also San Francisco.
Sadler says: “The demand from the States, from investment specialists and established companies, continues to be very high, which is great news for Cambridge and the UK.
“The interest from Boston is highest but San Francisco interest is also encouraging; of course they are different markets. Boston is massive in biotech terms but San Francisco is developing well in the sector. San Francisco property is a lot cheaper than Boston although some life science companies have chosen to co-locate to get the best of both worlds.
“Boston has, by far, the most commercial space dedicated to life science. It has 30 million sq ft of bio buildings. Cambridge UK has between two and three million sq ft and London only 80,000 sq ft.
“Cambridge UK remains a developing market in the life sciences and there is space to grow, which is proving attractive to international players. Illumina’s growth in Cambridge is very encouraging; it has moved into its new premises at Granta Park and is thriving here.”
Business Weekly also understands from separate sources that Chesterford Research Park is on a roll. Swiss company Lonza has reportedly signed up to go there.
Also at Chesterford, the new 40,000 sq ft Building 60 – which is not due for completion for another 12-18 months – already has three-quarters of the space under offer.