First Base and RPMI Railpen have submitted plans for Devonshire Gardens, a new 120,000 sq ft sustainable neighbourhood in Cambridge
The new sustainable neighbourhood in Cambridge will deliver 120,000 sq ft of wellbeing-focused workspace and 100 build-to-rent homes set in a new public park.
The mixed-use scheme, which has been designed by Buckley Gray Yeoman, will transform a 3-acre site currently used as a Travis Perkins depot into a new neighbourhood set around a new public park.
Along with the workspace and homes, the scheme plans to deliver various community facilities, including a creche, pavilion and artists’ studios.
The workspace will be delivered across two new buildings designed. The buildings are designed to exceed the highest possible environmental standards with roof-top solar panels, rainwater harvesting, greywater recycling and the optimisation of natural light.
The new homes will comprise a mix of apartments, all available to rent at market or discounted rates. The homes are designed to meet the city’s net zero carbon ambitions and will be powered by electricity from renewable sources, with no reliance on fossil fuels.
The buildings will be connected by a landscaped public park featuring over 120 trees, hundreds of new plant species and community food garden.
‘Enhancing Cambridge’s community’
Barry Jessup, chief executive of First Base, said: “Devonshire Gardens has been designed to become an exemplar long-term mixed-use development which combines highly sustainable workspace with much-need high quality homes, all based around a major new green park in central Cambridge.
“We have been working hard with Railpen to create a best-in-class long-term investment that will have very strong environmental credentials, provide excellent health and wellbeing facilities to both our residential and commercial tenants, and create real value for the existing local community.”
Richard van Lente, senior development manager at Railpen, added: “We are delighted to partner with First Base to create a development which enhances the Cambridge community, supports our sustainability, environmental and wellbeing targets, while at the same time also offering the potential for significant returns through capital growth or income.
“Railpen already holds significant investments in Cambridge and will continue to look for further opportunities to invest in economically, socially and physically relevant opportunities in places where people want to live, work and play.
“We consistently seek to enhance our assets through expert hands-on management and targeted value-add initiatives.
“Our approach delivers attractive risk-adjusted returns for our members that will help secure their futures, and strong economic and social improvements for the communities in which we invest.”