Telecom Deal - Issued on behalf of Turnstone Estates

Turnstone Estates and Cambridge University Strengthen Science Cluster | 19/10/09

Turnstone Estates has signed up a well known phone manufacturer at its Hauser Forum development on the University of Cambridge’s West Cambridge Site, in what is considered to be the most significant letting in the region this year.

The company is taking a pre-let 7,700 sq ft for a major research facility in the 42,570 sq ft Broers Building, which is under construction and completes in November. Upon completion it will take a 10-year lease with break options in years 3 and 6. The rent is £26.75 per sq ft after a six month rent free period.

Chris Goldsmith, managing director, of Turnstone Estates. comments: "West Cambridge provides a highly successful forum for business and academia. This deal significantly enhances the cluster of University and dynamic private sector partners working together on the West Cambridge site."

Ian Leslie, Pro-Vice-Chancellor for Research at the University of Cambridge said: "The new occupier’s close interaction with many departments in the University is further cemented by its occupancy of the Broers Building. Our initial collaboration with in nanoscience is now broadening to other technologies and into systems. We are very pleased that, even during challenging economic times, industry sees the value of long term research and in collaboration with leading universities".

Bidwells and Januarys represented Turnstone Estates and Cambridge University with Cushman & Wakefield acting for the tenant. Turnstone Estates is developing this building on a speculative basis with funding provided by Dunbar Bank.

The Broers Building, named in honour of the former University of Cambridge Vice-Chancellor Lord Broers, is designed to provide commercial and r&d space for private organisations whose activities are relevant to entrepreneurship and knowledge transfer. The site is at the heart of the Cambridge cluster and adjacent to the University's computer laboratory, electrical engineering, nanoscience and physics buildings. West Cambridge is also the location for a number of University collaborations with other commercial organisations including Microsoft, Hitachi, Schlumberger and AVEVA Group.

The Broers Building forms part of a cornerstone of the University's strategy for west Cambridge which is providing the modern research and teaching facilities needed to compete with other leading international universities; and at the same time acts as a pioneering centre for research collaboration with local and international industry. The successful development of West Cambridge strengthens Cambridge's position as Europe's leading centre for entrepreneurial science-based business.

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For further information, please contact

Chris Goldsmith, Turnstone Estates		Tel: 01245 292 800
Ian Purvis, Porterfield PR		Tel: 020 7647 4420