Cambridge remains a key hub for life science and innovation companies, largely due to its world-renowned university, leading hospital, and a highly skilled labour force. The region is seeing a substantial influx of life science businesses, bolstered by both venture capital and private sector investment. The demand for high-quality, well-located space in Cambridge continues to outstrip supply, particularly for laboratory and office spaces.

Market Dynamics and Statistics

• Rental Growth: The rental market for laboratory space in Cambridge is experiencing robust growth. Prime rents for fitted lab space are expected to reach near £100 per sq ft by 2026, reflecting a 25% increase from current levels​​. This significant rental growth is driven by the chronic shortage of lab space, with vacancy rates for labs at just 0.57%​.
• Occupier Demand: There is a phenomenal 2 million sq ft of occupier requirements in Cambridge, with 70% of this demand focused on laboratory accommodation. This high level of active demand ensures that any space currently under construction is quickly absorbed.
• Key Developments: Significant projects such as the new campus at Cambridge Science Park and the upcoming Cambridge South railway station (due to be completed in 2025) are poised to support the continued growth and connectivity of the area​.

Impact of Life Science Businesses

The relocation of life science businesses to Cambridge is contributing to the city’s economic dynamism. Key deals include major leases by companies such as Nyobolt, Siemens, and Dassault at various prime locations in the city​. This influx is not just boosting the commercial real estate market but also enhancing Cambridge’s status as a leading centre for scientific research and development.

Support from Restore Harrow Green

Restore Harrow Green is playing a pivotal role in supporting this surge in relocations, particularly for life science businesses. Here’s how we can assist:

1. Comprehensive Relocation Services: Offering secure and efficient relocation services, including the transportation of sensitive equipment and setting up new office and lab spaces.
2. Custom Solutions: Developing tailored solutions to meet the specific needs of life science companies, from secure transportation of lab equipment to setting up IT infrastructure in new locations.
3. Sustainability Practices: Helping businesses adopt sustainable practices through our eco-friendly services, such as recycling old lab equipment and our furniture reuse scheme.

By leveraging our expertise, businesses relocating to and around Cambridge can ensure a smooth transition, allowing them to focus on their core operations and innovations.

The relocations market in Cambridge, driven by the life sciences sector, is set for continued growth in 2024. With high demand for laboratory space and significant investment in infrastructure, Cambridge remains a prime location for life science companies. Restore Harrow Green is well-positioned to support these businesses, offering comprehensive services that ensure secure and efficient relocations, document management, and sustainable practices.

For more detailed insights and support on your relocation needs, contact our Cambridge team at 01223 616680 or email cambridge@restore-harrowgreen.com