Secretary Of State Approves Railpen’s 1 Million Sq Ft Beehive Plans in Cambridge

Currently a retail park, Railpen’s plans will transform Beehive into a world-class innovation park including workspaces for technology businesses, laboratories for research, a substantial new community park, a youth and community hub, science centre, and around 20 new shops, restaurants and cafés.  Major public transport upgrades are a central part of the plans, and will remove more than 10,000 cars from local roads.

The development has also been conceived by Railpen to deliver significant positive social, economic and sustainable impacts, factors recognised by the Local Planning Authority through the application process.  These include:

• A significant uplift in employment, rising from 855 FTE roles on the existing Beehive retail park to 6,500, of which over 2,000 will be entry to mid-level roles, supported by a careers academy
• An estimated £600 million in additional Gross Value Added annually in economic output supported by the new workforce, a further significant uplift on £55 million generated annually by the retail park currently. This would bring total annual GVA supported by the site to approximately £655 million.
• £180 to £240 million estimated in annual tax revenues
• £11.4 million in business rates, an increase of £8.5 million on the current site

The consent will also facilitate Railpen’s plans to upgrade the neighbouring Cambridge Retail Park, where an improvements programme has been developed that will bring significant benefits to retailers and the local community, including the relocation of key retailers.  The first phase has recently been completed with the creation of a new Starbucks in a unique landscaped setting.

Commenting on the Secretary of State’s decision, Andy Bord, Chief Executive Officer of Railpen, said: “We welcome the Secretary of State’s decision, which recognises the merit and appropriateness of our Beehive proposals, which will create a world-class innovation park.  This result is an important milestone for the Oxford-Cambridge Growth Corridor and reflects continued international confidence in the UK’s business environment.  We remain dedicated to advancing this vision through the development of our Innovation Cluster in Cambridge and, with this decision, we look forward to continued constructive engagement with our partners in the city, including the council and community organisations.  We are committed to ensuring that our scheme makes a meaningful and lasting contribution to Cambridge’s economic and social progress, while supporting the nation’s broader growth objectives.”  

The Beehive is part of Railpen’s Innovation Cluster in the city, a portfolio of 11 assets totaling 1.9 million sq ft of high-quality space, strategically located, and conceived to address current and emerging occupier requirements.  Other assets in the cluster include the recently consented 230 Newmarket Road, Railpen’s proposed 112,000 sq ft Grade A office building, Mill Yard, its unique 180,000 sq ft mixed-use campus that completes in Q1 2027, and Botanic Place, its 325,000 sq ft global standard head quarters development that completes in Q1 2028.