New office building at Cambridge North moves step closer
Cambridge North has achieved a major milestone, with a leading investment fund committing to invest in the first office building planned for the development. Schroder UK Real Estate Fund (“SREF”), part of a major financial institution, will provide £45 million to fund One Cambridge Square, a brand new office building at Cambridge North. One Cambridge Square will provide workspace of exceptional quality directly opposite the station and near the 217-room Novotel hotel currently under construction.
SREF will be delivering One Cambridge Square, their first investment in the Cambridge area, with the Chesterton Partnership, which comprises the owners of the land Network Rail and DB Cargo UK (part of Deutsche Bahn) and Brookgate, their development partner.
Sustainability will be at the heart of One Cambridge Square. SREF is a Better Buildings Partnership agreement signatory and aims to introduce a number of sustainability initiatives to the scheme. Designed by leading international architect Perkins and Will, the building will have seven levels with 53 basement parking spaces (initially incorporating a minimum of 27 electric charging points), 364 bicycle spaces, shower and changing facilities, as well as retail outlets on the ground floor.
This deal is another step forward for the regeneration of the wider Cambridge North area and the transformation of a derelict area into a thriving, inclusive new neighbourhood.
A CGI of the reception zone