Schroder U.K. Real Estate Fund (SREF) has agreed to forward-fund £45 million ($57 million) for the development of One Cambridge Square, a 99,743-square-foot class A office building in the urban quarter of Cambridge North.
Cambridge North will provide a gateway to the existing business clusters of Cambridge Business Park, Cambridge Science Park and St John’s Innovation Park, according to SREF. In the first phase it will deliver more than 700 new homes and 12,000 square meters (129,166 square feet) of office space.
Further housing, commercial space, a public square, parks and community facilities are also planned to be developed in phases over the next 10 years.
“The purchase marks SREF’s first investment into the city and is a rare opportunity to acquire a freehold interest,” said Jessica Berney, fund manager of SREF. “Cambridge’s position at the forefront of innovation and education is aligned with SREF’s approach to invest in high growth ‘winni
