Cambridge Realty has pre-let 37,000 sq ft of research space at Evolution Business Park to ultra-fast charging company Nyobolt.
The company intends to use the facility, which is located on the outskirts of Cambridge’s Northern Cluster, as its UK research and development centre.
Dr Sai Shivareddy, CEO of Nyobolt, said: “Following our latest round of funding, Nyobolt has continued its rapid expansion. As we accelerate the development, manufacturing and commercialisation of our technology, our requirement for tailored laboratory space has also evolved. We’re delighted with our new location in Cambridge, at the centre of the science ecosystem that is so important to us.”
George Craig, an associate in the business space agency team at Bidwells, which acted for Cambridge Realty, added: “At nearly 40,000 sq ft, this deal is the largest in Cambridge over the past year in a market that has been desperately starved of space. There has been an almost fourfold increase in Cambridge laboratory requirements since those pre-pandemic days, pushing demand to over 1m sq ft, but we have seen very little space coming forward.
“Thankfully, that is beginning to change with around 370,000 sq ft of space expected to be completed in 2023 and a more sustained supply pipeline expect for 2024, albeit not yet meeting demand.”
Ben Green, director at Eddisons, which represented Nyobolt, said: “It is a challenging market for occupiers with its limited supply of available buildings. We were therefore pleased to apply our market knowledge and expertise to secure this new facility for Nyobolt.”
