Mission Street and BentallGreenOak (BGO) have started work to deliver The Press, Foxton – a new 100,000 sq ft life sciences facility in the Cambridge Southern Cluster.
The joint venture is to transform a 7.8-acre site into a science and innovation campus via a re-positioning of a former printing press combined with state-of-the-art new-build.
The scheme will also provide direct rail links to Cambridge Central, Cambridge Biomedical Campus (from 2025) and King’s Cross
Phase one will comprise the refurbishment of a former printing press, creating 16,000 sq ft of fully-fitted lab and office space across two units.
Scheduled to complete in Q3 2023, it will be one of just a handful of life sciences schemes coming online this year.
Phase two, which will see the delivery of a newly constructed 65,000 sq ft building, is due to complete in summer 2024.
According to market data studied by Mission Street, there is demand for over one million sq ft of lab space in Cambridge, though only 10,000 sq ft is currently available.
Artem Korolev, founder and chief executive officer of Mission Street, said: “As part of our plans for The Press, we are bringing much-needed purpose-built life science space online quickly into market that is suffering from an acute shortage of stock.
“Britain’s life sciences sector is at an inflection point, and to fully realise the potential of our world-leading research and discovery, we must focus on providing the facilities that will enable our burgeoning R&D ecosystem to scale and commercialise.
“Our plans for the Press have been developed through extensive and overwhelmingly positive engagement with the local community and key stakeholders. We now look forward to delivering a design-led scheme that will be an attractive addition to the Cambridge ecosystem, and continuing to engage with some incredibly exciting occupiers in supporting their growth.”
Image source: Mission Street
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