Turnstone Estates - Mixed-Use Development - Cambridge, Cambridge University
Date: 08 Jan 2008
Turnstone Estates and the University of Cambridge have secured planning approval from Cambridge City Council for the East Forum, their 85,542 sq ft (7,947 sq m) mixed-use development at the University's prestigious West Cambridge site located between the city centre and the M11. Aside from accommodating several University faculties, West Cambridge is the location for a number of University collaborations with commercial organisations including Microsoft, Nokia, Hitachi, Schlumberger and AVEVA Group.
The approval follows Turnstone being selected as developer for the project in October 2007 in a move which represents a new method of procurement by the University whereby the developer assumes much of the risk and management of the project. The appointment concluded an extensive international search by the University for a development partner for this important site.
Work is due to start on the three-building scheme, which is sited on JJ Thompson Avenue adjacent to the Cavendish Laboratory, in spring 2008 with completion scheduled for summer 2009.
The first building will house a new 6,624 sq ft (615 sq m) café to service the site, replacing the existing West Café. The second building will total 26,237 sq ft (2,437 sq m) and will be the new home of Cambridge Enterprise, a University-owned organisation concerned with commercial knowledge transfer. The building will provide staff offices, incubation space and a seminar centre. The University will maintain the freehold of these two elements.
The third building at the site will comprise 52,681 sq ft (4,894 sq m) of commercial R&D and ancillary space which will be let to private organisations whose activities are relevant to entrepreneurship and knowledge transfer. Turnstone Estates will develop this building speculatively and be granted a long leasehold interest over it.
Chris Goldsmith, managing director of Turnstone Estates, comments: "We are very pleased to be working with the University of Cambridge. The receipt of planning approval means that work can now start on this exciting development to unlock its considerable potential."
Professor Ian Leslie, Pro-vice-Chancellor for Research for the University of Cambridge says: "This new building will provide a strong base for Cambridge Enterprise as it builds upon its success in commercialising the University's many research initiatives. The site is in an ideal location in the heart of the Cambridge cluster and adjacent to the University's Computer, Electrical Engineering, Nanoscience and Physics buildings as well as Microsoft Research Ltd and many other key commercial partners."
Bidwells advised the University of Cambridge and Januarys advised Turnstone. Both agents have been retained for lettings.
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