Cambridge Biomedical Campus (Land)
Cambridge Biomedical Campus is home to the world-renowned Addenbrooke's Hospital, Cambridge University's School of Clinical Medicine, Cancer Research UK and other research institutes. Approximately 15 years ago the hospital wanted to secure space for expansion, increase it’s interaction with business and improve hospital transport links without investing significant time and money in the planning and development process. The land was owned by a private family trust that was looking to secure long term value without again incurring the expense and burden of development.
We recognised that key to the success of the development was the way the parties worked together to their mutual advantage. We negotiated a co-operation agreement between the landowners and the hospital trust which set out the optimal way in which they could work together to achieve their objectives. Having set this context, we acted for both parties in selecting a promoter/development partner on the open market who could fund and manage the complex planning process and deliver the required infrastructure, marketing and development expertise.
A consortium of Liberty Property Trust and Countryside Properties was selected to enter into a joint venture agreement, following which the developers supported and then took over responsibility for the entire planning and infrastructure delivery process. The campus is now to be extended by around 215,000 sq m to provide the expansion space the hospital needs as well as accommodation for research institutes and commercial organisations working in the healthcare and life sciences markets. A new 25,200 sq m facility for the Medical Research Council’s Laboratory of Molecular Biology has been completed and a new road now connects the campus to the M11 motorway. The quality of the location has attracted Astra Zeneca to build an 80,000 sq m facility and further development is expected soon.
