Cambridge’s position as a global leader could be under threat due to housing affordability and supply constraints, according to a new report by Savills.
The Good Growth for Cambridge report says the city is well placed to take advantage of its reputation as a world leader in technology and life sciences – but only with greater co-ordination between locally-led planning decisions and the delivery of national strategic infrastructure.
Ongoing challenges around housing affordability and supply constraints that prevent the expansion of both office and laboratory space present serious challenges to Cambridge’s position as a global centre for innovation and development, a new report has said.
The report says that if the Government is serious about its plans to build 150,000 new homes in the city and surrounding area over the next 20 years then new sites will have to be identified for development, supported by new infrastructure.
And along with the need to tackle existing challenges of electricity and water supply, the report highlights the need for provision of education, health and social care, as well as a range of housing tenures to ensure the city retains its key workers.
Despite infrastructure delivery and sustainability issues, the report says, that level of development would offer opportunities on a scale not seen since the creation of the Milton Keynes Development Corporation in the 1960s.
With requirements for laboratory space also on the rise, there will also have to be provision for new and existing life science and technology business to relocate and/or expand.
The report reveals record demand for laboratory space in 2023 with 341,000 sq ft transacted – 61 per cent above the previous highest total recorded in 2019.
Tom Fraser, head of office at Savills Cambridge, said: “Cambridge sits at a potential turning point, with the Government recently announcing ambitions for residential and commercial development that would see the city grow faster than anywhere else in the country.
“But if we want any large scale expansion of Cambridge to be successful, there will need to be greater co-ordination between locally led planning decisions and the delivery of national strategic infrastructure, bringing together both the public and private sector.
“Whether led by the Cambridge Delivery Group or another overarching body such as Homes England, the growth of Cambridge will only happen with clear timelines for investment and delivery of new infrastructure, aligned with the Local Plan process.
“Alongside electricity and water challenges, this also has to include the provision of education, health and social care, as well as a range of housing tenures to ensure the city retains its key workers.”
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