Led by The Crown Estate, a mixed-use regeneration project worth £1.5bn is proposed for Cambridge Business Park. The new innovation ecosystem in Northeast Cambridge will provide office and lab spaces for start-ups and established businesses, alongside a housing, leisure and what is termed a “cultural offer for the wider community”.
The redevelopment of Cambridge Business Park is still in its infancy, with the new masterplan in early stages of design and a wider public consultation is planned for later this month to inform proposals.
The site currently comprises 12 buildings across 20 acres, providing in the region of 325,000 sq. ft of commercial office space only.
The developing masterplan intends to create a mix of retail and leisure spaces, a new high street, ‘science on show’ focused lab buildings and office space and homes.
Central to proposals will be a ‘no borders’ ethos through the opening up of the site, creating improved accessibility and connectivity to Cambridge North station and surrounding science parks.
There will also be opportunities for young people and the local community to enjoy the facilities and access STEM focused educational opportunities.
Subject to planning, construction at Cambridge Business Park is anticipated to begin in 2026 through a phased approach, with the new destination open and operational by 2030.
A Crown Estates spokesperson said: “It will greatly support the UK’s science, innovation, and technology ambitions and the Government’s focus on keeping the UK at the forefront of global innovation.”
The Crown Estate is owned by the Monarch “in right of the Crown”. This means that while the King owns the estate during his reign, it is not his private property, and he does not manage or make decisions about its assets.
This dates back to 1760 when George III surrendered the management of Crown Lands to Parliament for a fixed annual payment.
Later in the Crown Estate Act 1961 the modern-day independent and commercial organisation was created. Profit is delivered to the Treasury, who then decide the annual payment to the King (the Sovereign Grant).
The Cambridge initiative, says the Crown Estate spokesperson, will build further on recent partnerships with Great British Energy to accelerate the deployment of renewable energy, and with Pioneer Group and Oxford Science Enterprise to deliver a new 100,000sq ft life sciences, technology, and innovation space in the heart of Oxford.
The spokesperson said: “As a major national landowner, The Crown Estate has a proven track record of enabling innovation and generating long-term social value, and is driven by its remit to create economic, social, and environmental value for the nation.
“Through redeveloping Cambridge Business Park, it intends to create an inclusive destination; connecting ideas, people, and industries that facilitate important science innovations with tangible social impact.”
The Crown Estate says its Cambridge development is part of a wider long-term ambition to invest up to £1.5 billion in the science, technology, and innovation sectors nationally over the next 15 years.
“Supported by the creation of a globally significant Innovation District in Northeast Cambridge, the proposals will nurture homegrown skills and enable businesses to scale up in the UK and attract investment,” said the spokesperson.
It believes Cambridge is well-positioned to capitalise on this growth and support investment in innovation.
“Today it is firmly established as Europe’s largest technology cluster, with more than 60,000 people employed by around 5,300 knowledge intensive businesses in the area,” said the spokesperson.
“With a raft of science and R&D-focused spaces within Cambridge, the curation of a national, innovation focused ecosystem will help to contribute to this growth and create further opportunities for Cambridge, the wider region, and the UK.
“The Crown Estate aims to deliver a scheme that will fulfil a wider mission-led purpose, fuelling meaningful social, environmental, and economic change for the public good that connects top talent, research, and funding to address urgent global challenges.
“The Crown Estate is well-positioned to play a key role in UK innovation through its unique combination of assets, customers, and partners which it intends to leverage for the benefit of the sector.
Initial proposals for the transformation of Cambridge Business Park will be publicised as part of public consultation, due to commence later this month.
Dan Labbad, CEO at The Crown Estate, said: “The Crown Estate is investing where it can have the most meaningful impact in addressing areas of national need, meeting local challenges, and realising opportunities.
“Our vision for Cambridge Business Park is to create an inclusive and connected place that is industry leading in terms of sustainable and innovative workspace.
“Working with government and our partners, we intend to contribute to the UK’s science, technology, and innovation sectors’ success on the global stage, acting as a catalyst for innovation and economic growth, while delivering a community of socially conscious and environmentally focused business leaders.
“We are confident Cambridge Business Park will play a pivotal role not only in enabling SMEs to scale up, but also in connecting and convening the brightest minds and organisations to innovate with impact and support our wider aims of improving planetary health.”
