Land acquired for major 10,000-home scheme east of Cambridge
Land for a major new housing development on the airport site east of Cambridge has been acquired which will create a new settlement of over 10,000 homes and business space. Housebuilder Hill Group and the government funding agency Homes England have completed the acquisition of Cambridge East which it says will deliver ‘one of the UK’s largest urban extension projects’. The land has been acquired from Marshall Group, which has owned the site for over 100 years. The acquisition includes Cambridge City Airport – which is set to close – and around 700 acres of adjacent land. Marshall will relocate its operations by mid-2029 to facilitate the development. The Cambridge Growth Company, a subsidiary of Homes England, will work with Hill to deliver the project which will also bring ‘at least’ 3 million sq. ft. of commercial space, supporting around 9,000 jobs. A regional training hub is being considered and plans include infrastructure, schools, health facilities and green space. The proposed Cambridge East rail station will link the site with central Cambridge and London. Labour housing secretary Steve Reed said: “Cambridge East will become exactly the type of new community this country is crying out for – thousands of new homes to help people get a foot on the housing ladder, backed up with good jobs, modern transport links and beautiful green spaces.” A public consultation is planned with a start on site for an initial phase of up to 500 homes from 2029.
Photo (l-r): David Heaford, CFO, Marshall Group; Greg Hill, deputy chief executive, Hill Group; Peter Freeman, chair, Cambridge Growth Company; Andy Hill, chief executive, Hill Group; Alison Crofton, chief regional delivery officer, Homes England; Roger Hardy, chair, Marshall Group
Established SMEs in the region ‘face challenges’ in accessing finance for investment
Businesses which are already established play a key role in the East of England economy although many face challenges in getting access to finance for investment, according to a research from Oxford Economics, an advisory firm. It says there are 56,085 established firms in the East – employing from five-250 people – and accounting for nearly two in five private sector jobs despite making up just over a fifth of the region’s total number of businesses. But the report points to a £65 billion lending gap to SMEs, which has grown over the past 25 years, which is restricting the finance and working capital available to businesses that want to expand, boost productivity and create jobs. Conrad Ford, chief product & strategy officer at Allica Bank, a business lender which commissioned the report, said: “I speak to established businesses all the time and you quickly see how important they are to their local areas. These are the manufacturers, logistics firms, hospitality operators and specialist businesses that employ local people, support supply chains and keep communities thriving.”
Plans submitted for region’s first bio natural gas refuelling facility
Plans have been submitted for a new high-capacity biomethane plant at Spalding in Lincs which will be the first public bio-liquified natural gas (Bio-LNG) refuelling facility in the region. The new plant, next to the hq of FreshLinc, a fresh goods haulage and logistics company, is set to open towards the end of this year and will mark a significant expansion of the national gas refuelling infrastructure. Biomethane is made by collecting organic materials such as food and agricultural waste and can be used as fuel for buses, trucks, or other vehicles and to provide renewable gas to homes and businesses. James Westcott, chief commercial officer at Gasrec, which is building the new facility, said: “The demand for biomethane continues to grow at pace and the site in Spalding forms another important part of our plans to build a resilient national backbone of refuelling facilities allowing more and more operators to transition away from diesel.” The site will serve Lincs, Cambs, Norfolk and Suffolk and FreshLinc will start switching parts of its 400-strong commercial vehicle fleet to gas-powered trucks during its next renewal cycle.
Meal delivery and boxing promotion firms amongst region’s fastest-growing businesses
A meal delivery service, a temporary housing provider and boxing promoter business are among the East of England’s fastest growing businesses, according to The Sunday Times 100 – Britain’s fastest-growing private businesses list. The top eight in the East on the list – which excludes tech companies – with figures for average annual sales growth over the past three years and latest sales, are : 1)Simmer Eats (meal delivery service, Herts) 264.56%, £79.1m; 2) The Housing Network (temporary housing provider, Luton) 128.53%, £51.9m; 3) Queensberry (boxing promoter, Herts),124.27%, £167.2m; 4) City Grey (construction contractor, Herts) 85.79%, £21.3m; 5) Target Darts (darts brand & talent manager, Essex) 81.91%, £106.5m; 6) Blakely Clothing (fashion brand Norfolk) 78.99% £84.1m; 7) SunEnviro (skip hire, Suffolk) 64.13%, £16.8m; 8) Darke Engineering (civil engineer, Cambs) 62.47%, £24.7m. On average the top 100 fastest-growing companies nationally have increased their sales by 108pc a year over the last three years to a combined £4 billion in sales. This figure is up by £600 million on last year.
Historic event space in demand as Cambridge college marks 700th anniversary
As demand rises for distinctive venues for meetings and events, one of Cambridge’s historic institutions, Clare College, is marking its 700th anniversary this year. The university’s second oldest college, and part of the Meet Cambridge portfolio, Clare College was founded in 1326 as University Hall and endowed by Lady Elizabeth de Clare, a granddaughter of King Edward I. Andrew Bell, head of Meet Cambridge, said: “It’s rare to find a venue with this level of heritage still operating at the heart of modern business events and conferences. What we are seeing more broadly is a clear demand for venues that offer experience as well as technical capability. Clare College represents that balance – 700 years of history combined with modern conferencing infrastructure.” In 2009, the Gillespie Centre and Lerner Court was opened at Clare College providing light, airy design and flexible meeting spaces. Since opening, the centre has been upgraded with the latest audio-visual technology, including hybrid meeting capabilities.
Photo: Scholars Green at Clare College
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Cambs arable farm put up for sale with guide price of £10m
A commercial arable farm of around 825 acres has been listed for sale near Huntingdon in Cambs with a guide price of £10m. Lodge Farm, Great Raveley, near Huntingdon, has been owned by the same family for over 70 years. The property includes a five-bedroom farmhouse, two cottages, a well-equipped farmyard and a yard with planning permission for residential conversion. It is listed for sale through Savills as a whole or in five separate lots. Oliver Carr, from Savills in Cambs, said: “Currently farmed under a Contract Farming Agreement by a local family who would be keen to continue their management for a new owner, the gently undulating topography, together with pockets of woodland and pasture, provides both strong agricultural capability and amenity appeal.”
Suffolk-based IP firm marks 40th anniversary
Intellectual property firm Dummett Copp, based in Martlesham, outside Ipswich, is marking its 40th anniversary. Founded in 1986 by David Copp and Peter Dummett, the firm has grown from a specialist partnership into a practice with a wide client portfolio. Regional businesses it has advised over the years include Tristel, Thompson & Morgan, Stokes Sauces, St Peter’s Brewery and Frugalpac, alongside international businesses such as Dometic. Nick Jackson, partner at Dummett Copp, said: “While the legal and commercial landscape has changed significantly since 1986, our focus has remained the same: providing specialist advice and building long-term relationships with clients across Suffolk, the wider UK and overseas.”
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Agency appointed to promote Suffolk technology centre
Framlingham Technology Centre in Suffolk has appointed Penn Commercial to promote its wide range of fully-serviced office and workshop space to let. Close to the A12 and Sizewell C, the centre offers around 22,000 sq ft of flexible, serviced offices and workshops, available for short- or long-term hire, with up to 90 car parking spaces on-site. As well as individual office space, combined offices for teams of up to 30-40 people can be let. The centre is now home to some 28 businesses and 70 ‘virtual’ clients. Penn Commercial’s Rachael Jackson said: “Offering modern, stylish accommodation to suit all sizes and budgets, Framlingham Technology Centre is ideally positioned to be able to meet future demand, especially for Sizewell C suppliers and contractors, with its strategic connections and close proximity to the scheme’s ‘Park and Ride’ hub at neighbouring Wickham Market.”
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