Turnstone Estates confirmed as Development Partner for next phase of growth at St John’s Innovation Park


27-07-2020

St John’s College, owners of St John’s Innovation Park, has appointed Turnstone Estates as Development Partner for the next phase of the Park’s growth; the delivery of the Dirac Building - a new 85,000 sq ft Grade A office and R&D building, and associated transport hub - ready for occupation in the first quarter of 2023, alongside planning for a further 85,000 sq ft office building.

Located at the centre of the North Cambridge Research and Development Cluster, St John’s Innovation Park provides a thriving working environment for companies of all sizes and is currently home to a range of well-known and prestigious R&D, technology and life science companies, including Samsung, Raspberry Pi, Darktrace, Mewburn Ellis and PwC.

Further development of the Park to enable it to continue to support dynamic and ambitious companies, welcome new organisations to the site and improve facilities for current occupiers has long been part of the strategic vision of St John’s College. Bringing forward the development of the Dirac building and neighbouring transport hub - which incorporates cycle storage, gym and shower facilities - highlights the College’s confidence in the commercial environment in Cambridge; its commitment to the continual improvement of Park infrastructure and facilities; and its over-arching ambition for St John’s Innovation Park as an integral part of the northern cluster.

St John’s College enjoys a trusted, long-term relationship with Turnstone, who successfully delivered the 65,000 sq ft Maurice Wilkes building at the Park in 2018. The building was fully let shortly after completion.

Chris Goldsmith, Managing Director, Turnstone said: “We are delighted to have been appointed by St John’s College to deliver this prominent new building, which marks not only the next stage in the evolution of St John’s Innovation Park but also our partnership with the College. The partnership is an ideal fit; we recognise and are committed to the long-term success of the Park and look forward to working together with the College once again, adopting a pro-active and flexible approach to delivery and to generating lasting value from what will be a substantial real estate asset.”

Suzie Wood, Investment Property Manager, St John’s College commented: “Further to the successful delivery of the Maurice Wilkes building, the College is extremely pleased to renew its partnership with Turnstone for this next phase of the Park’s development. Turnstone are aligned with our long-term objectives for St John’s Innovation Park and understand the complexities involved in the delivery of a project of this nature, particularly in the current environment. I am looking forward to working with them to deliver another exceptional building.”

A planning application for the two additional office buildings and new transport hub building in the north western corner of the Park will be submitted in August. Subject to approval construction will begin in 2021.

 

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Established in 1989, Turnstone is one of the most active and dynamic property companies in the south east of England.

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