Now is a great time for businesses to move to Cambridge as the future for the area looks very bright indeed. The number of businesses located here is expected to increase 50% by 2018. To accommodate this increase there is approximately 350,000 sq. ft. of new speculative space set for construction and 150,000 sq. ft. of space currently under construction.
The price for office space in Cambridge is not the cheapest; in fact in the city centre it is the most expensive in the UK outside of London. For serviced offices you should expect to pay around £500 per person, per month. However, if companies are willing to locate to the outskirts of the city and the surrounding towns, space can be found at considerably lower levels. For those willing to spend, there are some fabulous options within the city centre. It is always worth keeping in mind that serviced offices often include various services and amenities that help to keep the overall cost down.
Due to the increasing number of start-ups looking to either set up or move into the area, a lot of the enquiries we receive are for smaller and flexible spaces. However, with AstraZeneca moving into the area, larger spaces are expected to be requested as others follow their lead. Instant are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics.
Why choose Cambridge?
One of the major advantages of setting up business in Cambridge is the impressive talent pool available. Over 40% of the workforce of Cambridge have a higher education qualification, more than double the national average. A good number of graduates stay in the city due to the high quality of living with many start-ups spun out of the university. With an easy commute to and from London, the city has become a tech hub with easy links to the capital.
Five things you probably didn’t know about Cambridge:
- Cambridge was granted its city charter in 1951 despite its lack of a cathedral, usually a prerequisite for city status
- Cambridge University outnumbers Oxford University in terms of Nobel Prize winners (89 to 58)
- Oliver Cromwell is buried in an unmarked grave close to the doors of the Sidney Sussex College Chapel
- The University of Cambridge was officially started in 1209 by an association of scholars who came from Oxford
- Lord Byron kept a pet bear in his rooms when he was at Cambridge, because University rules stated that he wasn’t allowed to keep a dog