Bridgemere and Foundation Capital Ventures have secured planning consent for a 343,000 sq ft science and innovation campus near Cambridge.
South Cambridgeshire District Council has granted planning permission to the Cambridge Discovery Campus, which will comprise six laboratory-enabled buildings. The project is estimated to have a gross development value of circa £400m, sources said.
Steve Morgan, who founded housebuilder Redrow 50 years ago with a loan from his father and who still holds 16% of the shares, leads the Bridgemere group where he is chairman.
“We will make our own contribution to the future success of the life sciences sector in Cambridge via the provision of much needed, state-of-the-art R&D buildings”
Will Heath, CEO, Bridgemere
Bridgemere is working with Foundation Capital Ventures, Rob Sadler’s new property company, on the project. Sadler was a senior director at Savills, where he led the Cambridge office and set up the Savills’ science UK programme.
The phased redevelopment of the 50 acre site will also include a bespoke amenity building overlooking sports fields to be shared with the local community and a 30 acre country park.
Will Heath, CEO, Bridgemere said: “We will make our own contribution to the future success of the life sciences sector in Cambridge via the provision of much needed, state-of-the-art R&D buildings within a campus that not only supports the health innovations of tomorrow, but which also contributes positively to the local community and surrounding area with additional amenity and green space for everyone to enjoy.”
Contractors have been appointed to begin the initial phase of development, which will deliver the first of the six lab buildings alongside amenity facilities. The project is targeting a BREEAM Outstanding rating.
Connectivity to wider Cambridge ecosystem
The site is located two miles south of Cambridge city and adjacent to the new Southwest travel hub that provides connectivity to both Cambridge Biomedical Campus and the city centre.
“The accessibility of Cambridge Discovery Campus to other notable life science R&D locations makes it perhaps the most strategically important new campus in the cluster”
Rob Sadler, Foundation Capital Ventures
Sadler added: “The accessibility of Cambridge Discovery Campus to other notable life science R&D locations – the closest being Cambridge Biomedical Campus accessible in minutes by road – makes it perhaps the most strategically important new campus in the cluster.
“In addition to its superb geographical position, the campus itself will offer occupiers an exceptional ‘whole campus’ environment, marrying flexible, high-quality lab and write up facilities with thoughtfully considered amenity within a stunning parkland setting.”