Listed regeneration specialist developer and investor U+I has sold its interest in Cambourne Park to South Cambridgeshire District Council and South Cambridgeshire Investment Partnership for £6.6m.
The deal will enable South Cambridgeshire District Council and South Cambridgeshire Investment Partnership (a 50:50 partnership between the local authority and Hill Group) to proceed with plans to further develop the site and surrounding plots to provide additional workspace, housing and related amenities for the local community.
Under the terms of the deal, South Cambridgeshire District Council are purchasing two distinct elements from U+I:
- The business park infrastructure, including landscape, marketing suite, electric car charging points and the operations and management company controlling the site
- A three-acre plot of land with planning consent for a 50,000 sq ft office building
- A 20-acre plot of land designated for housing in the Local Plan is being purchased separately by the South Cambridgeshire Investment Partnership
This means that between the local authority and the South Cambridgeshire Investment Partnership, they now have 100% ownership of the undeveloped plots.
U+I purchased the site in 1998 and turned it from a disused plot on the edge of Cambourne town centre into a business park.
Located approximately nine miles west of Cambridge, the park features a number of award-winning grade A office buildings set in 50 acres of picturesque parkland with lakes, cycleways, bridlepaths and footpaths.
Richard Upton, CEO at U+I, said: “I am proud of the legacy U+I has created at Cambourne Park. This mixed-use site has become home to a prosperous, entrepreneurial community set within an area of outstanding natural beauty.”
