Earlier this month (July) it was announced that developer U+I had been appointed to spearhead the multi-billion pound project to redevelop the existing water treatment site in the north of the city - known locally as ‘The Milton Sewage Works’ - for mixed residential and commercial use.
The 120-acre site, which is owned by Anglian Water and Cambridge City Council and being referred to as ‘Cambridge Northern Fringe East’, has been marked out for 5,200 new homes and one million square feet of commercial development and will take up to 15 years to complete. The project is reliant on a government grant to relocate the treatment works.
Barker Storey Matthews, who formed part of a team advising U+I in its bid submission, believes that the site’s appeal is not only being the last major brownfield development site available in the city, but also the opportunity to create a whole new quarter for Cambridge with its own identity and draw.
Ben Green of Barker Storey Matthews commented, “This is a hugely exciting opportunity to deliver a large-scale development in a prime part of the city.
“Cambridge is one of the fastest growing cities in the UK and the pressure on housing and commercial space is immense.
“There has been a lot of debate in recent years about how best to accommodate growth and ensure Cambridge maintains its position as a global centre for research and development.
“The site’s proximity to existing transport infrastructure, including the new Cambridge North train station and Guided Busway, and current employment at the Science and Business Parks makes it the perfect location to expand Cambridge in a sustainable and sensitive way.
“That this speculative opportunity attracted a number of high calibre developers seeking appointment speaks volumes about the project’s significance and value - circa £3.5 billion - and how high the landowners set the bar in wanting a developer who will do the site justice and create a truly unique new quarter for the city in which to live and work.”
For more information about the available commercial property or offices to rent in Cambridge or Cambridgeshire’s market towns, contact Stephen Power at Barker Storey Matthews Huntingdon office, 01480 451578, email@example.com see bsm.uk.com.