A new index compiled by accountants Grant Thornton has identified Cambridge as the most vibrant city in England.
(39th), St. Albans (11th) and all London boroughs.
The index, which looks beyond the usual economic measures of prosperity (GVA) and employment, includes additional considerations like the quality of life, levels of creativity and sustainability of the local environment to provide the vibrancy measure.
The proposed re opening of a rail link between Cambridge and Oxford has been given fresh impetus with the promise of £110m of funding in the Chancellor's latest Autumn Statement. The funds will be used to accelerate the building of the Oxford to Bedford link and explore the options for extending the link from Bedford to Cambridge.
The ‘new’ Varsity line will also connect Milton Keynes and Aylesbury once completed.
At a recent Life Sciences seminar organised by Bidwells and Creative Places, Doug Cuff of BioMed Realty drew comparisons between the US and UK Life Science real estate markets, which identified the potential for further growth in the UK.
The Cambridge Laboratory market has grown by more than 500,000 sq ft (41%) over the past five years. This will increase by a further 500,000 sq ft when the AstraZeneca Campus is completed in 2018/19.
The 163,000 sq ft speculative office scheme at Brookgate’s CB1 mixed use development, adjacent to Cambridge railway station, received a funding boost when Aviva agreed to provide £87m of development finance.
Aviva have also committed to an ongoing funding role at the CB1 scheme when further office accommodation is brought forward.
Office market take up exceeds 500,000 sq ft for fourth successive year.
The laboratories market recorded its second highest annual take up figure, 288,000 sq ft, in 2016.
Industrial supply falls to just 5% of total stock, with 51% in poor quality space.
Prime industrial rents forecast to increase by 4.6% per annum over next five years.
Office supply falls to lowest level in 15 years, with availability rate down to 8.5%.
Lack of grade A supply pushes prime rents to £11.00 per sq ft, 7.3% higher than end 2015.
Two 100,000 sq ft transactions at Cambridge Biomedical Campus dominate activity in second half of 2016.