Mission Street and BentallGreenOak (BGO) have received planning consent for the creation of new life sciences space at the joint venture’s The Press development in Cambridge.
The Press will provide 64,000 sq ft lab and office space either as a headquarters building or up to six smaller suites and forms part of a wider 100,000 sq ft development of the 7.8 acre site.
Artem Korolev, founder and CEO of Mission Street, said: “We are thrilled to receive planning consent for phase two of The Press. Securing the consent under delegated powers is testament to the enormous effort Mission Street and our professional team have put in to engaging with the local community and wider stakeholders.
“We are proud to be delivering a scheme that genuinely provides benefits at a local level, whilst addressing the chronic undersupply of high-quality lab and office space that is much needed in the Cambridge ecosystem.”
Phase one of the development, which consists of 16,000 sq ft of lab and office suites, is currently under construction and due to complete late this year. Construction of the newly consented space is due to commence this summer with completion in mid-2024.
