Slough Estates acquires Cambridge Research Park
Slough Estates plc is acquiring the Cambridge Research Park development site immediately north of Cambridge. The park has a gross area of 112 acres including wildlife refuge. It has planning consent for the development of 52,953 sq m (570,000 sq ft) of office and R&D; facilities, including a 678 sq m (73,000 sq ft) office pre-let to Cambridge Cable, which is also being acquired. In addition the site has outline consent for a hotel. To develop the whole site could cost Slough Estates a total of approximately �125 million which represents a significant commitment to one of the fastest growing regions in the country. Cambridge has become Britain's pre-eminent research and development centre with biotechnology, IT and communications being the driving force. Derek Wilson, Chief Executive said: "This new investment is consistent with Slough's strategy of concentrating its development and investment resources in locations which are attractive to modern growth industries, such as the Thames Valley where the Group has over �1.6 billion invested and California where Slough is the leading developer of research facilities for the rapidly growing bio-science industry. The purchase of Cambridge Research Park is an exciting opportunity to participate in the region's growth."
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