Work starts on speculative scheme in northern Cambridge as transport links set to improve
Work has started on the first speculative development in Cambridge's northern R & D cluster in over a decade ahead of the opening of a new train station nearby and guided busway. VINCI Construction UK marked the start of work on the five-storey Maurice Wilkes building on St John’s Innovation Park with a ceremony this week. It is being developed by St John’s College and its partner Turnstone Cambridge Developments and is scheduled for completion by June 2018. The new office/ R& D building will provide 64,445 sq ft of Grade A space with suites from 6,454 sq ft and will feature a part-double height reception area and roof terrace. The building has secured a pre-let with cyber security specialist Dark Trace signing for the top two floors. Chris Goldsmith of Turnstone said: “Although we still have more than 12 months to go to completion the level of occupational interest is most encouraging.”
Separately, a flurry of deals at St John’s Innovation Park has seen Global Inkjet Systems expanding to larger premises on the park and agree a new five-year lease for 9,953 sq ft on the ground and first floor of Edinburgh House. Meanwhile, Collabora, an open source technology specialist, has agreed to a new six-year lease for 2,548 sq ft on part of the ground floor of The Platinum Building. William Clarke at Savills Cambridge – who let the space for St John’s College - said: “Providing straightforward expansion opportunities along with improved accessibility, following the opening of the new train station later this year, the park continues to attract businesses from across the spectrum whether they be start-ups or large international corporates.”
Law firm advises on £1m crowdfunding campaign
Ashtons Legal recently advised London-based cycling apparel brand Le Col Holdings on a £1m crowdfunding campaign. Matthew Downing, head of Ashtons’ corporate and commercial team in Cambridge, said: “This was an exciting project to be involved with and it was great that Le Col was able to exceed its initial target. This business has grown steadily and with the new funding it will enable the business to continue that growth and reach new markets.” He added: “Crowdfunding has grown in popularity in recent years and is now an important alternative fundraising option for those businesses looking to raise funds to support their growth strategy. It also has the added benefit of bringing the business closers to its customers in enabling them to have an actual stake in it.” Le Col is a premium cycling apparel brand, founded in 2011 by professional cyclist, Yanto Barker. Made in Italy, it sells online and in over 10 countries; directly, and through a range of specialist retailers.
A14 upgrade helps create 'hive of activity' in Huntingdon
Building work has started on two new commercial sites at Hinchingbrooke Business Park in Huntingdon. Peterborough-based developer Barnack Estates UK is developing the sites at Falcon Court and Kingfisher Court. Falcon Court, due for completion this autumn, comprises six units ranging in size from 2,050- 8,078 sq ft; Kingfisher Court offers eight units ranging from 1,560- 2,700 sq ft. Richard Adam, director, Barker Storey Matthews Huntingdon, who is marketing the sites, said: “Huntingdon is a hive of activity at the moment for commercial property and development opportunities. “The extensive highway construction works to upgrade the A14 and access to Cambridge are profiling the commercial benefits of a Huntingdon location to new occupiers and there is a real buzz to the business scene here."
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Strong end to year for law firm
Law firm Prettys has ended the financial year with March trading figures at the highest level since July 2015. Despite fears around Brexit, instructions from the construction sector have been strong together with dispute resolution and employment. The firm has also seen a rise in shipping-related work. Ian Carr, Prettys CEO, said: “2016/17 has seen continued uncertainty in the market with people concerned about Brexit and the economy generally, however it was great to see such a strong March performance. We have generally seen a greater value of instructions in 2017 showing the economy remains resilient.” Over the past six months Prettys has recruited 11, expanding 7client teams and is continuing to recruit.
New chair of R3’s Eastern region
Cambridge insolvency practitioner Mark Upton, a partner at Ensors Chartered Accountants, has been appointed chairman of insolvency trade body R3 in the East of England, taking over from Frank Brumby. Mark Upton (photo, right) has over 20 years’ experience in both personal and corporate insolvency work. He said: “I will be representing R3’s Eastern region at national level to lobby the government and help to shape reform affecting the insolvency and restructuring profession in the most positive way. I will also continue R3’s strong support of its members at local level, ensuring businesses and individuals receive the best advice." R3’s Eastern region branch is one of the most active in the country, with over 80 members.
Law firm recruits three new partners
Essex and Suffolk law firm Ellisons Solicitors has hired three new Legal 500-recommended partners to its commercial property and corporate commercial teams. Tim Bacon, Ross Wiltshire and Jon Bloor, all previously of Prettys solicitors, have joined the 17 existing partners at Ellisons. Tim Bacon joins with a focus on development work and large scale strategic sites for residential and commercial development. Ross Wiltshire is a commercial property solicitor who undertakes all types of commercial property work with a specialism in banking and secured lending. Jon Bloor joins the corporate commercial team where he will work on corporate and commercial, private equity, and banking and secured lending. Guy Longhurst, senior partner, said: ‘‘We continually look to strengthen and diversify our expertise for our clients, and these appointments complement that entirely, whilst also developing further our position in the Ipswich and Chelmsford markets.’’
Photo (l to r): Tim Bacon, Jon Bloor and Ross Wiltshire.
Experienced commercial property lawyer joins firm
A leading commercial property lawyer, Gavin Acheson (right), has joined Birketts as a partner in its commercial property team in Cambridge, which is one of the largest property practices outside London with more than a hundred specialists. He said: “Birketts is a genuinely attractive and exciting proposition, for both property lawyer and property market alike. They understand that the City-based pyramid growth model for the provision of legal services, with its constant focus on the next big deal, is no longer fit for purpose in today’s market. They combine the talent, experience and expertise of the City law firm with a proper understanding of the value of long-term, personal and mutually beneficial working relationships.” Kath Herbert, partner and head of Birketts’ commercial property team in Cambridge, said: “His knowledge and understanding of the institutional investment and not for profit markets in particular sits very well with our strategic land and mainstream investment and development practices.”
Acting for Cadena, Savills has acquired the freehold of Boundary House at Four County Place in Chelmsford from Marble Acquisitions for £2.8 million, giving a net initial yield of around 7.5 per cent. The three storey building comprises 11,369 sq ft of business space in Chelmsford’s prime office district.
A new marine business, Evolution Rigging, has started operating from Suffolk Yacht Harbour on the River Orwell. Headed by Richard Odell, the team at Evolution Rigging has over 40 years’ combined rigging and sailing experience. The firm is hosting an open day for the public from 10am – 4pm on Saturday 6th May.
'Exceptional experience' at showcase event in Cambridge college
One hundred meetings professionals were recently given an insight into how to make their events exceptional experiences at a one-day showcase organised by Meet Cambridge at Jesus College’s new West Court conference facilities. A drinks reception was held the evening before at the Wellcome Trust Genome Campus Conference Centre to showcase venues ‘beyond’ the city. After breakfast canapés served in West Court’s new Dining Room and refurbished Webb Library, delegates were the first to experience the new Auditorium to hear keynote speaker Natalia Cohen, who was part of an all-female team to row across the Pacific Ocean and set two new world records. A panel Q&A session followed, led by event professional Richard John who explored what makes an exceptional event with four specialists: Emma Thornton, VisitCambridge & Beyond; Jonathan Brech, Cambridge Network/Cambridge Ahead; Rose Padmore, ABPCO and Ben Cole, Inspired. Kelly Vickers, director of Meet Cambridge said: “This was our most ambitious showcase event to date and with the title of ‘Exceptional Experiences’, we really had to live up to the title. Feedback from the meetings professionals who attended has been very positive indeed…”
Photo (l to r): Judith Sloane, Laura Worsley, Natalia Cohen, Kelly Vickers, Leah Gibson, Jo Olivey and Anita Macdonald.