CoStar recently reported that Turnstone Estates and St John’s College have submitted plans for two 85,000 sq ft Office Buildings. Located at the centre of the North Cambridge Research and Development Cluster, St John’s Innovation Park is home to R&D, technology and life science companies. The Park tenant list includes a variety of blue chip companies such as Samsung, Raspberry Pi, Darktrace, Mewburn Ellis and PwC.
St John’s College, owners of St John’s Innovation Park, has appointed Turnstone Estates as a development partner for the next phase, the Dirac Building, an 85,000 sq ft office and R&D building, and associated transport hub. The building should be ready for occupation in the first quarter of 2023, alongside planning for a further 85,000 sq ft office building.
The college said that the development of the Dirac building and its neighbouring transport hub (which includes cycle storage, gym and shower facilities) – highlights its ”confidence in the commercial environment in Cambridge; its commitment to the continual improvement of Park infrastructure and facilities; and its over-arching ambition for St John’s Innovation Park as an integral part of the northern cluster”.
Chris Goldsmith, Managing Director, Turnstone said: “We are delighted to have been appointed by St John’s College to deliver this prominent new building, which marks not only the next stage in the evolution of St John’s Innovation Park but also our partnership with the College. The partnership is an ideal fit; we recognise and are committed to the long-term success of the Park and look forward to working together with the College once again, adopting a pro-active and flexible approach to delivery and to generating lasting value from what will be a substantial real estate asset.”
Suzie Wood, Investment Property Manager, St John’s College, said: “Further to the successful delivery of the Maurice Wilkes Building, the College is extremely pleased to renew its partnership with Turnstone for this next phase of the Park’s development. Turnstone are aligned with our long-term objectives for St John’s Innovation Park and understands the complexities involved in the delivery of a project of this nature, particularly in the current environment. I am looking forward to working with them to deliver another exceptional building.”
A planning application for the two additional office buildings and new transport hub building in the north western corner of the Park will be submitted in August. Subject to approval construction will begin in 2021.
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