January 24, 2019
Salmon Harvester Properties (SHP) has achieved practical completion of construction of its 68,000 sq ft industrial/warehouse scheme in Sawston known as Cambridge South. Contractor, Marbank Construction, finished the 13-unit build within 9 months.
SHP internally funded the project which is now valued in excess of £10M. Lettings are currently being progressed through joint Cambridge-based agents, Carter Jonas and Savills.
Ben Le Coq of Carter Jonas, said: “We are encouraged that this scheme has been completed to service the pent-up demand for high quality space in and around Cambridge with no new industrial distribution hub delivered to the south of the City for several years. We have had substantial interest to date and expect all 13 units to be let or under offer soon. Much of the interest is from science and technology companies looking for hybrid ‘mid-tech’ accommodation for research, development and manufacturing. These occupiers require clean and efficient space to house high-end equipment for their highly skilled workforce.”
Savills’ Phillip Ridoutt added: “Cambridge South is also unique in being the first scheme in over a decade to include new units in the sub 2,000 sq ft bracket to meet the occupational requirements of a range of businesses. Situated in the heart of Cambridge’s bio-cluster, this new scheme is of significant interest to R&D and knowledge-based firms looking to capitalise on high quality, flexible accommodation whilst tapping into the Cambridge knowledge hub. Good value, too, with asking rents at £10 per sq ft. This development will create numerous new jobs reinforcing the City’s position as one of the UK’s major leading centres of economic growth.”