The UK’s Crown Estate has submitted proposals for a £2bn ($2.6bn) redevelopment of Cambridge Business Park, laying out plans for a new science and innovation district in north-east Cambridge.
The submission has been made to the Joint Development and Management Committee of South Cambridgeshire District Council and Cambridge City Council.
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The proposed redevelopment includes up to 1.8 million square feet of office and research and development (R&D) space, as well as the creation of a new neighbourhood featuring up to 500 homes.
Of these homes, 40% are planned as affordable housing, and up to 200 will be designated as co-living units.
The plans also set out nearly 60,000ft² of new leisure and retail space, intended to accommodate shops, restaurants, cafes and bars, along with extensive green public areas and a new main square.
The Crown Estate expects the project to support more than 8,000 jobs across multiple sectors, with particular emphasis on science and innovation industries.
Annual local expenditure is forecast to increase by approximately £25m as a result of the development.
The scheme aims to improve connectivity by adding new walking and cycling routes, a guided bus stop, new access points, and stronger links to Cambridge North Station and nearby hubs, including Oxford and London.
The proposal includes environmental targets, such as a commitment to a highly sustainable, low-carbon design and a 55% reduction in water use compared with standard benchmarks, saving an estimated six million litres per year.
The planning application follows two years of community engagement, comprising public consultations, workshops with local schools and feedback from an Ideas Exchange panel set up for the project.
In addition to the redevelopment, The Crown Estate is investing £1.5m in Greater Cambridge Impact, a £10m vehicle aimed at tackling social and economic challenges, such as skills development for young people, support for children in care and homelessness.
The Crown Estate Development managing director Kristy Lansdown said: “Cambridge plays a critical role in the UK’s innovation economy as one of the world’s leading innovation hubs, with Cambridge Business Park at its heart.
“Our masterplan proposal sets out a bold, long-term plan to support the city’s growth, while delivering market-leading environmental and landscape proposals, as well as lasting and inclusive benefits for communities and the wider economy.”
The submitted plans form part of The Crown Estate’s wider intention to invest up to £1.5bn in the UK’s science, innovation and technology sectors.
The company estimates that redeveloping Cambridge Business Park could add about £650m a year to the UK economy.
