Market snapshot

Office Market Pulse Cambridge Q3 2012

Despite continued uncertainty in the office market, intelligence-based industries continue to fuel a more robust picture in Cambridge. However, while take-up is on the increase, there is limited available space and demand levels have fallen for the fourth consecutive quarter. 

In this issue:

Strength in take-up continues

Take-up in Q3 totalled 120,252 sq ft, increasing the total year to date figure to 322,317 sq ft. There is a further 125,000 sq ft of office space currently under offer. For a breakdown of Q3 take-up click here.

Our projection for total annual take-up is 500,000 sq ft; an 8.5% increase on the five year average of 460,500 sq ft. For an annual comparison of take-up click here.

Technology Media and Telecommunications (TMT) occupiers continue to dominate take-up and account for 38% of the total at 131,653 sq ft. 

While take-up rates have increased, registered demand has fallen for the fourth consecutive quarter and reflects just 70% of Q3 2011 levels.

Significant occupational transactions

Property Size Landlord(s)  Tenant/Purchaser  Lease information 
Stirling House,
Waterbeach 
38, 986 sq ft  MoD  Paragon Holdings  Freehold purchase 
Unit 323,
Cambridge Science Park 
9,600 sq ft  Toshiba  Xaar Lease assignment 
CPC1, Capital Park,
Fulbourn 
8,135 sq ft  i2  ARM  Lease assignment 

 

Reduced availability

Total office supply reduced by 67,825 sq ft to 962,207 sq ft in Q3 and, most significantly, grade A availability has risen to 226,783 sq ft following a series of quality refurbishments at buildings such as Victory House, Vision Park and Histon.

For a detailed breakdown of availability click here.

Regions

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