Cambridge's commercial rents and house prices soar

摘要

Cambridge's success as a global hub for biomedical and technology research is stoking office rental growth and putting pressure on the city's housing stock, according to Savills. Since 2009, rents for the best commercial space in Cambridge have surged by £12/sq ft, which is twice the growth of any other UK city outside London. As a result, they now stand above all other regional cities at £37/sq ft. Rental growth is being fuelled by high demand for office space. Average annual take-up over the past three years stands at 620,000 sq ft, which is 59% above the 10-year average of 390,000 sq ft.