Savills : R&D occupiers continue to covet mid-tech units at Cambridge Research Park

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.