Cambourne Business Park – Cambridge Area, UK
The investment sits within the Cambourne Business Park and consists of three properties with 2 and 3 story buildings. The Business Park sits on the fringe of Cambridge; UK’s main hub for technology and innovation R&D. In addition to being the brain center of the UK and in close proximity to a high speed train station, Cambourne is a commuter town to London (travel takes approximately one hour).
The investment is amongst the most modern in the greater Cambridge office area, and allows for the open usage / zoning, giving added flexibility of tenant type.
The investment has institutional characteristics such as its location in a strong South-East sub market and quality multi-let tenancy profile; both which show strong supply and demand dynamics. It has been under managed and tenants have not been engaged. Management has improved numerous maintenance items and is currently in discussion with tenants to extend their current terms.
The shortest term tenant, Regus, is almost fully occupied and has requested an extension. As such the property offers a stable cash flow with upside rental growth. The investment is financed by RBS.