We’re pleased to announce that we will lead a £7m investment of Peterborough’s Lynch Wood Park to create 50,000 sq ft of new high-quality offices.
The news comes as demand exceeds supply for premium offices to satisfy the city’s buoyant office market.
The 350,000 sq ft office campus, set in mature landscaped grounds, is situated in an area that has attracted many well-known occupiers over the years such as Anglian Water, Close Brothers, Thomas Cook and Atkins.
Since taking over management of the landmark campus, we have agreed new leases with existing occupiers Diligenta, Tata Consultancy Services, Coloplast, RSA, ERT and Kidney Research UK for the future. Currently, only 50,000 sq ft of office space remains available.
David Thwaites, our Senior Asset Manager at Lynch Wood Park, commented: “We recognised an opening to invest in a major refurbishment of the last remaining 50,000 sq ft of office space to provide a new opportunity for the market. Our architects Sheppard Robson have created designs for new Grade A offices which will be ready for occupation from Q3 2018.
“Occupiers will benefit from an impressive entrance and reception area under a glazed roof as well as conference and meeting room facilities. The offices will also enjoy excellent natural light as well as air-conditioning and extensive car parking facilities at a ratio 1:185 sq ft.
“We plan to offer a range of sizes to the market from 3,000 sq ft up to 50,000 sq ft. As Peterborough is the UK’s fastest growing city, it attracts a wide variety of businesses from local and regional offices to major national end users so we want to be flexible.
“We are also investing in a major refurbishment of the on-site restaurant facility which currently caters for a workforce of 2,000. There are also plans to improve other tenant amenities, as well as revitalising a real community spirit among our occupiers and their staff, which will include an array of themed events throughout the year. We also have a new gym opening on the site next year.”