LaSalle Investment Management, advised jointly by Savills and Bidwells, has let office space within Lincoln House at The Paddocks in Cambridge to InMusic Europe Ltd and Radio Maria England.
InMusic Europe, a group of leading music technology and consumer electronic brands, has agreed to a new five-year lease for 5,525 sq ft (514 sq m) on the second floor of the building. An existing occupier at the scheme, this latest letting doubles InMusic’s presence at The Paddocks. The firm was able to successfully scale up within the complex, which is testament to the variety of space available.
Subsequently, Radio Maria England, which is affiliated to the World family of Radio Maria, the international religious radio broadcasting service, has also agreed to a new five-year lease and will occupy 1,427 sq ft (132 sq m) on part of the first floor.
The site, which comprises 143,073 sq ft (13,291 sq m) of office and industrial space, was given a new lease of life following a significant capital expenditure injection by asset managers LaSalle. These latest deals follow other notable commitments at the park with lettings and renewals to Cambustion, Pure Bathrooms and Fluidic Analytics. As a result, there is now just 4,960 sq ft (461 sq m) of available office accommodation to let.
Rupert Dando, surveyor in the business space team at Savills, Cambridge, comments: “The Paddocks benefits from being just 1.5 miles outside of Cambridge city centre, providing cycle routes and good access to both the M11 and A14. For this reason, it is the ideal place for both businesses to thrive as they take advantage of the discounted office accommodation in relation to other nearby city centre locations and flexible leasing policy. LaSalle’s excellent asset management has meant that the scheme continues to attract an array of occupiers, who have the ability to upsize in order to facilitate their business growth.”