Deals bonanza at Lancaster Way Business Park
Grovemere Property, the owner of Lancaster Way Business Park in Ely, is celebrating a number of successful transactions with construction now on site for a new hybrid 38,000 sq ft building as well as a 110,000 sq ft new build to start on site shortly.
The office/R & D and light manufacturing facility of 38,000 sq ft is being funded by Riverside Capital on 1.75 acres for Cambridge Nutritional Sciences on a 25-year lease.
Construction of Thorlabs’ 110,000 sq ft freehold office, R & D and manufacturing facility is due to start in January 2019 with completion in 2020. The deals to CNS and Thorlabs follow hot on the heels of two recently completed buildings.
The University of Cambridge has just taken occupation of its new 58,000 sq ft book archive facility which will provide additional long-term storage space linked to its current storage facilities in Cambridge.
Deanta Doors took occupation of its new 48,000 sq ft state of the art office and warehouse facility in December.
Grovemere’s strong relationships with occupiers on the park provides virtually 100 per cent occupancy, assisted by long-term agents Bidwells and Cheffins to market any opportunities.
The remaining 40 acres of land is available for Grovemere to construct new buildings for occupiers on a freehold or leasehold basis, with land sales also considered.
Russell Catley, partner for the Business Space Agency at Bidwells said: “Lancaster Way Business Park is an attractive prospect for a wide range of businesses; it is part of the Cambridge Compass Enterprise Zone, so occupiers can benefit from up to £55,000 per year in rates relief, fast-tracked planning, access to growth funding and additional grants and support from the Greater Cambridge Greater Peterborough Enterprise Partnership.”
Philip Woolner, Head of Cheffins Commercial added “The soon to be completed Ely Southern bypass will drastically speed up access from the Park to Newmarket and the A14.”
Set in 175 acres, Lancaster Way is one of the largest business parks in the eastern region.