Voice of the Region: Cambridgeshire – University challenges

The office market in Cambridgeshire is flourishing as rents head towards the £50 psf level but a shortage of available land could hamper future growth, according to Bidwells senior surveyor George Craig.

Bidwells leads the Cambridgeshire On-Demand Rankings for transacted space, with 822,813 sq ft disposed so far this year. It is a market led by the technology cluster that has formed around Cambridge University which seeks to attract the best talent the various colleges produce.

One of the biggest success stories this year has been Roku, which specialises in streaming services including Peloton, whose growth through the pandemic has seen it expand from 20,000 sq ft to 116,000 sq ft. Craig expects the £50 psf barrier to be broken early in the new year, but says landlords will need to think creatively about repurposing existing stock as land is in short supply.