The Crown Estate has submitted plans for the £2bn mixed-use redevelopment of Cambridge Business Park, alongside an investment in Greater Cambridge Impact, a body dedicated to tackling inequality in the region.
CGI of Cambridge Business Park. Credit: Studio Egret West
The plans include up to 1.8m sq ft of office, research and development space, which the estate said could support up to 8,000 jobs and contributed £650m annually to the UK economy.
The project will also include around 500 homes with a40% affordable allocation and up to 200 co-living homes.
Nearly 60,000 sq ft of retail and leisure space including shops, restaurants, bars and cafes, public spaces and community infrastructure is also planned.
The Crown Estate said the project, first revealed by Property Week in November 2024, would transform the park into major science, innovation and community destination that will become a new epicentre for the emerging North East Cambridge Innovation District.
The redevelopment plans pledge enhanced connectivity with new cycling and walking routes, bus stop and rail links, and a sustainable, low-carbon design that will target a 55% cut in water use relative to standard benchmarks. The project will also support around £35m in annual local expenditure.
The development is part of The Crown Estate’s long-term ambition to invest up to £1.5bn into the UK’s science, innovation and technology sectors.
Credit: Studio Egret West
Alongside the plans, the Crown Estate has pledged to invest £1.5m into Greater Cambridge Impact (CGI), a £10m investment vehicle focused on tackling inequality in the region, as part of the organisation’s commitment to providing a local social impact.
Over the next 10 years, CGI will deploy place-based capital into organisations tackling inequality, focusing on improving skills for young people, children in care and homelessness.
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.”
Please visit:
Our Sponsor