Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed a comprehensive refurbishment of the iconic Radio House office in Cambridge at a cost of £8.5 million, delivering 43,388 sq. ft. of available Grade A space to an under supplied market.
Radio House was built in the 1950’s and purchased by Orchard Street in 2011. The self-contained property, which features a distinctive ‘wavy’ roof, sits on a 1.9 acre site and is split over two levels – ground and first floor – and includes a 114-space dedicated tenant car park (1:380 sq. ft.) and 156 covered bicycle spaces. The comprehensive refurbishment, which took 15 months to complete, saw the asset stripped back to its shell and includes the installation of a striking new double height reception, generous shower and changing facilities, and a new lift. The floors offer a unique and efficient floor plate, extending to over 20,000 sq. ft. and 120 meters in length, overlooking meadows and the River Cam from floor to ceiling glazed windows. On the first floor the building’s original character has been preserved as the wavy roof has been exposed, providing ceiling heights of up to 4.75 metres. Sustainability has been a key consideration throughout the design process, which has led to the property achieving a BREEAM Excellent rating.
Conveniently located in Chesterton, between the city centre and the northern fringe business parks, Radio House is easily accessible by car, bicycle, foot or public transport. There is an extensive retail and leisure offering in the immediate area and all of the amenities of Cambridge city centre are just 7 minutes away by bicycle. Regular national train services operate from both Cambridge and the recently opened Cambridge North train stations, and London Kings Cross and London Stansted airport are 45 and 31 minutes away respectively.
Jamie Munday of Orchard Street commented: “This comprehensive refurbishment project provided us with the rare opportunity to deliver a unique, prime office asset of considerable scale to a tightly supplied market that is experiencing good levels of rental growth. Cambridge continues to witness increased office demand from existing companies, as well as attracting new occupiers, driven by its highly skilled workforce and international reputation for technology and life sciences. We believe Radio House will appeal to a diverse range of companies looking to expand or set up a new HQ in Cambridge.”
Bidwells is acting as letting agent for this property on behalf of Orchard Street.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £5 billion.