Royal London, advised jointly by Savills and Bidwells, has let Unit 4 at Enterprise, Cambridge Research Park to Cambridge Pharma Ltd.
Cambridge Pharma Ltd, the parent company of Oval Medical Technologies who is already on the park, manufacture and deliver a wide range of drug formulations for both subcutaneous and intramuscular injections. The firm has agreed to a new 15-year lease for 16,146 sq ft (1,500 sq m) of R&D and production space.
This latest deal follows lettings to Oval Medical Technologies, Applied Medical Technologies and Teraview who occupy a total of 41,445 sq ft (3,850 sq m), meaning 55% of the scheme is now let.
Rupert Dando, surveyor in the business space team at Savills Cambridge, comments: “Royal London’s Enterprise scheme, which was developed in partnership with XLB, provides premium and flexible mid-tech accommodation ideal for the thriving Cambridge R&D sector. Consequently, Enterprise has attracted a range of occupiers drawn away from the traditional northern cluster due to its competitive rents, R&D capabilities and Enterprise Zone benefits.
“What’s more, the potential to incorporate bespoke innovative fit-outs has seen businesses who would usually occupy office space, consider these multi-functional buildings. There are now only five units remaining ranging in size from 6,000 sq ft to 14,000 sq ft”
Cambridge Pharma Ltd was advised by Carter Jonas.
