The office building at Quayside, Cambridge is among the most sought after office spaces in the city centre. Constructed in the 1980s, it offers unparalleled views over the River Cam and Magdalene College, and is equipped with an array of ground floor bars and restaurants. As such, it comes as little surprise that following an extensive refurbishment project by real estate agency Cheffins, which manages the building on behalf of Magdalene College, the building is now demanding the highest rental prices in Cambridge city centre, tying for the record with CB1 on Station Road.

Img: Business Weekly
Letting over 13,000sq ft of space at Quayside, Cheffins are bringing in a total rent in excess of £420,000 per annum as a result of deals with 3 key occupiers. Amadeus Capital Partners, Audio Analytic, and Unipart Logistics each took up space in the building, paying over £36 per square foot for the privilege.

Cambridge audio software company Audio Analytic occupy first and third floor offices comprising of over 8,360sq ft of space. The move from their previous premises on St Andrew’s Street follows a period of rapid expansion.

The 4,798sq ft second floor office has been let by Amadeus Capital Partners, again seeking to upsize after a period of growth.

Occupying the final first floor office of 2,365sq ft is Unipart Logistics. The independent logistics giant is seeking to gain a foothold in Cambridge with their first office in the area.

Cheffins managed to make some significant savings in the favour of Magdalene College throughout the refurbishment project, all the while managing to drive up rental values for the building by more than 50%. That’s no easy task, but the interest shown in the premises seems to indicate its success.

Steven Harvey, associate at Cheffins, commented, “Rents achieved at Quayside are reflective of its desirability and profile as one of Cambridge’s most iconic buildings. 

“In such a central position, interest came from all over the world as more global companies look to put a foothold in Cambridge. As the city continues to be one of the leading economic powerhouses in the UK, we are still seeing that supply against demand in Cambridge is causing an uplift in prices across all locations.

“Quayside is an example of how costs of refurbishments can be easily off-set by prime rental values and these will continue to perform as Cambridge enjoys inward investment from a variety of different sectors alongside the tech and biotech industries.”

Sam Bonson

Sam is an aspiring novelist with a passion for fantasy and crime thrillers. He is currently working as a content writer, journalist & editor in an attempt to expand his horizons.
Share To:


Post A Comment:

0 comments so far,add yours