(London) – Chesterford Research Park, owned by Aviva Investors, the global asset management business of Aviva plc, alongside Uttlesford District Council, has reached practical completion on the construction of more than 56,000 sq ft of additional facilities for life science companies.
Construction of the Sidney Sussex building commenced in late-2023 to deliver ten fully-fitted research and development suites spread over three floors, bringing Chesterford Research Park’s capacity to approximately 385,000 sq ft of net internal space to UK life science enterprises.
The new building has been designed specifically to support life science companies through their growth journey from startup to scale-up. Designed to be flexible and scalable, with the ability to combine suites for larger requirements, spaces range from 2,245sq ft to more than 8,300 sq ft, comprising state-of-the-art laboratory facilities alongside dedicated, open-plan, office areas. This allows them to be tailored as resident companies grow, ensuring the facilities have the flexibility to continue accommodating their evolving needs.
The new scheme was delivered by Glencar Construction.
Situated in 250 acres of parkland, Chesterford Research Park provides advanced laboratory and office space for biotechnology, pharmaceutical and technology R&D companies of all sizes whilst being under 20 minutes from the centre of Cambridge and an hour from Central London. Its rural setting provides occupiers with a tranquil space to concentrate on delivering groundbreaking research.
The development of Chesterford Research Park builds on Aviva Investors’ existing investments in Cambridge, including an investment of up to £250 million in 2019 towards the creation of the CB1 Estate, a 26-acre master-planned development to regenerate and revitalise Station Road in central Cambridge. Aviva Investors provided funding for several buildings under the scheme including 10, 20, 30 and 50/60 Station Road, which are home to global leading companies including, Amazon and Samsung.
In June 2024, Aviva Investors announced it had forward funded the creation of 101 single-family homes as part of the Franklin Gardens community within the wider Darwin Green masterplan on the northwestern edge of Cambridge. Aviva Investors has also invested £15 million with Cambridge Innovation Capital, a venture capital firm specialising in early-stage life sciences and deep tech companies in Cambridge.
Julian Cobourne, Head of Regional Investment Management at Aviva Investors, said:
“We are very proud to offer a significant increase in capacity at Chesterford Research Park, and to unveil these exceptional facilities in the new Sidney Sussex building. Cambridge is an exciting and dynamic city and remains an important investment location. With a high concentration of life science companies in the region, from university spinouts through to globally leading brands, this is a great example of how we are continuing to enhance our real estate portfolio and helping the UK get ready for the future by providing high-growth sectors with environments to thrive in whilst also supporting long-term investment outcomes.”
