Published: 15th Apr 2019

South Cambridgeshire District Council has bought an office building at Cambridge Science Park in a bid to generate more money for the local authority. The building has been sold with tenants – the firm DisplayLink – in place, who have a 15-year lease from 2015. According to the council, the rent generated by the building will provide the local authority with an initial net return of around 5.6%. The purchase comes after councillors agreed the authority’s first ever investment strategy at a meeting in February. The building is listed as Grade A office space – which means it is among the highest quality buildings on the market. And its location, Cambridge Science Park, is widely considered Europe’s most successful research and development park. It is also well-served by public transport with the Guided Busway and Cambridge North railway station within a few minutes’ walk. The council already generates around £2m … (To read the full article, subscribe below)