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LONDON-South Cambridgeshire District Council has agreed to take a new 64,000-sf council headquarters at Developments Securities’ 750,000-sf Cambourne Business Park. The council is buying the freehold of the new building–which comprises 60,000 sf of office space arranged over three floors as well as the new council chamber–in a £16.4 million package. Completion is due in Spring 2004.

Located nine miles from Cambridge city centre, Cambourne Business Park forms an integral part of a 1,040-acre new settlement of 3,300 houses with town centre, retail and leisure facilities. Existing tenants at the business park include Campbell’s; Regus; Citrix and Convergys. Development Securities was represented by Atis Real Weatheralls and FPD Savills. SCDC was represented by Lambert Smith Hampton.

Development Securities’ Joint Managing Director Julian Barwick said: “This is a significant transaction for Development Securities and counters some of the negative sentiments which have recently surrounded the Cambridgeshire business park market.”

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