Howard Group's acquisition of Iconix Park and Langford Arch provided an opportunity to harness the exceptional demand for office, R&D and laboratory space in the south Cambridge biomedical cluster, and to complement the adjacent development at Unity Campus.
SECTOR: Office and laboratory
ACQUIRED: Jan 2014
VALUE: c £12m
Sawston Trade Park was acquired by Howard Group in 2009 as part of the commitment to investing in and around the city of Cambridge. It currently houses some 15 occupiers in 18 buildings comprising c 90,000 sq ft.
The adjacent Iconic Park was acquired in 2013 along with the development land between the two estates. Iconix Park consists of buildings 1, 2 and 3 which have been comprehensively refurbished and are now fully let to occupiers including:
- Transforming Pathology Partnership
- AQ Dot
Iconix Park and the adjacent land were identified as an opportunity to create an asset of sufficient scale to enable a large scale redevelopment and master-planning process.
Demand for good quality premises on the southern fringe of the city has hit record levels in recent years, while supply has dwindled. Sawston's position just four miles south of the Cambridge biomedical campus and close to other leading research facilities offers a superb opportunity for Howard Group to address this demand.
Lying to the south and to the north of Howard Group’s “Unity Campus” development, Iconix Park and Langford Arch presented opportunities for Howard Group to acquire contiguous ownerships and to increase the asset management opportunities available. The strategy for the group was to retain as much of the existing income from the older-style office buildings, whilst refurbishing and repurposing the vacant space to provide affordable yet attractive business space.
This substantial investment, along with continual liaison with key occupiers means that the group's tenants are able to flex their operations within the estate, acquiring additional accommodation or moving to more suitable space without having to relocate completely.
Sawston Trade Park fronts London Road and is situated within a quarter of a mile of the A505 which links to junction 10 of the M11. Cambridge lies only five miles to the north.
Iconix Park is located seven miles south of Cambridge in the heart of the Cambridge Cluster.