International real estate advisor Savills, on behalf of L&G, has brought to market The Grafton in Cambridge.
The property presents a major opportunity for redevelopment and repurposing across 12 acres in the heart of Cambridge city centre.
The Grafton presents an opportunity to redevelop all or part of the scheme, with a number of initiatives already progressing or agreed including the introduction of office space, co-working, hotel, education and alternative leisure uses.
The site presents a unique opportunity for repurposing into life sciences and laboratory accommodation, with the potential to provide in excess of 80,000 sq ft oflab space in the city.
Savills research has shown that Cambridge saw £1.21 billion of life science related capital raised in 2020, along with a considerable demand from life sciences occupiers for lab space. However, the city’s market is currently constrained due to a significant lack of available stock, and, as it stands, there are no commercially marketed labs currently within the city centre.
Mark Garmon-Jones, head of repurposing and retail investment at Savills, comments: “The Grafton presents a truly extraordinary one-off opportunity to redevelop 12 acres in Cambridge to a standout, revitalised mixed-use destination. Cambridge is a globally-recognised location across a number of sectors and the potential for life sciences uses at this scheme is particularly exciting.”
