The Grafton Centre, Cambridge, is up for sale, presenting a major redevelopment opportunity in the centre of the historic city.
The mall presents a unique redevelopment opportunity for its 12-acre site, with the flexibility to redevelop part of or the whole site, with a number of possibilities already agreed including office space, both traditional and co-working, a hotel, education spaces and alternative leisure uses.
The site could also be repurposed into a life sciences space, with the potential to provide more than 80,000 sq. ft of lab space and related space to the city.
A Savills report found that the city raised £1.21 billion of life science-related capital in 2020, as well as considerable demand for occupiers and lab space across the city, however, the sector is constrained by the lack available space, and at p[resent there are no commercial labs in the city centre
Head of repurposing and retail investment at Savills Mark Garmon-Jones said “The Grafton presents a truly extraordinary one-off opportunity to redevelop 12 acres in Cambridge to a standout, revitalised mixed-use destination. Cambridge is a globally-recognised location across a number of sectors and the potential for life sciences uses at this scheme is particularly exciting.”
It has been brought to market by real estate advisor Savills, on behalf of L&G.
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I wonder what all the displaced former residents of the Kite District would have to say about this forty years after the bulldozers flattened their homes, their businesses, their memories, to build the Grafton?