The Crown Estate has submitted plans for the £2bn redevelopment of Cambridge Business Park.
The plans include up to 1.8m sq ft of office and research and development space; a new neighbourhood featuring up to 500 homes, including 40% affordable housing and up to 200 co-living units; nearly 60,000 sq ft of new retail and leisure space including shops, restaurants, bars and cafes; and generous green public spaces and a new main square.
The masterplan for the site has been shaped by two years of engagement with local communities, businesses and stakeholders.
The Crown Estate is also investing £1.5m into Greater Cambridge Impact (GCI), a £10m investment vehicle focused on tackling some of the region’s most pressing social and economic challenges.
Kristy Lansdown, managing director, development at The Crown Estate, said: “Cambridge plays a critical role in the UK’s innovation economy as one of the world’s leading innovation hubs, with Cambridge Business Park at its heart. Our masterplan proposal sets out a bold, long-term plan to support the city’s growth, while delivering market leading environmental and landscape proposals, as well as lasting and inclusive benefits for communities and the wider economy.
“Alongside the long-term transformation that the masterplan proposes, it’s crucial that we start to contribute today to the future of Cambridge. This is why we are committing £1.5m to Greater Cambridge Impact, supporting impact investment for initiatives that benefit those in the city that need it the most.”
Matthew Sampson, regeneration director at The Crown Estate, added: “This is an important step forward for Cambridge Business Park and the wider North East Cambridge area. Over the past two years, we’ve worked closely with the community to understand their needs, helping them shape proposals that not only support world-leading science and innovation, but also create a place that works for local people and delivers long-term benefits for Cambridge.”
