Two office buildings in Cambridge totalling 52,053 sq ft have been acquired by M&G Real Estate.
Bidwells, acting on behalf of the buyer, a global pension provider, completed the sale of Prospect House and Carisbrooke Court next to Buckingway Business Park which M&G already owns.
The 3.83-acre site was launched to the market at the start of Summer and generated strong interest from investors, developers, as well as occupiers.
In partnership with Goya Developments, M&G now plans to pursue an industrial redevelopment of the site.
Patrick Stanton, head of Bidwells’ industrial & logistics team, said: “It is not often that development sites come to the market in Cambridge. As a result, this opportunity attracted significant interest from a broad range of parties.
“The detailed planning consent secured by our client for a new industrial warehouse, and hi-tech facility laid the foundation for what a developer could achieve on this site.”
Savills acted for M&G Real Estate.
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