New �100m Cambridge Research Park Signs Up First Tenant
April 1998 Diomed Limited, the world leader in surgical diode lasers, has taken a pre-let as the first tenant on Phase I of the �100m Cambridge Research Park on the A10, Ely Road in Cambridge. The scheme is being undertaken by Suon Cambridge Ltd, a joint venture between Tawnywood Ltd and Carisbrooke Investments Ltd. The proposed two-storey building will comprise office and laboratory accommodation totalling 1,858.5 sq m (20,000 sq ft). It has been let on a 25 year FRI lease with five yearly upwards only rent reviews containing lease breaks at the 15th and 20th years. Nic Rumsey, director of Carisbrooke Investments Ltd, said, "We are delighted to announce this first pre-let to Diomed Limited whose operations encapsulate all that the Research Park will be about. It is intended that work on the building will commence as soon detailed planning permission is obtained, with construction completed and the unit ready for occupation by the beginning of next year. "The scale of the task of developing this site has previously made prospective occupiers dubious about it ever commencing, but now this deal together with work starting on site, is sure to give them confidence in the Cambridge Research Park." Work on the park is now well underway with contractor, French Kier East Anglia Ltd, on site carrying out initial earthworks. They have opened up the site by draining part of one of the lakes fronting the site to allow construction of a new roundabout on the A10 Ely Road. Chris Bernsen of Diomed Limited, commented, "We had several criteria for our new location - an attractive congestion free environment with good parking provision was important. However, most significant was CRP's size. We can be certain that if we need to expand we will be able to take additional space and we understand that Suon will allow any company that takes space at the Research Park and subsequently requires larger accommodation to be released from its existing lease as long as the new building is also on the Research Park." Diomed Limited, which was founded in 1991 and now has over 35 employees, has a strong track record in successful product and commercial development in the healthcare industry. The company has developed proprietary technology which, for the first time, allows the power emitted by laser diodes to be coupled with standard optical delivery fibres for medical applications. Diomed systems were first launched onto the international market in 1993 and now markets its products in over 35 countries. Suon plans to provide as many facilities as possible including a four star hotel with conference and exhibition facilities, a health and leisure club, bars and restaurants. It also hopes to provide cash points/banking, a cr�che/nursery and possibly newsagents and travel agents. Suon Cambridge Ltd was represented by development consultants and joint agents Rumsey & Partners, Gerald Eve and FPDSAVILLS. Diomed Limited was represented by Noble Harris Partnership.
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