St Ives sets its sights on luring Cambridge businesses
THREE hundred new jobs could be created in St Ives later this year with the town trying to lure businesses out of Cambridge. The new �10million extension to St Ives Business Park, off Harrison Way, is scheduled to be ready in September – around the same
THREE hundred new jobs could be created in St Ives later this year with the town trying to lure businesses out of Cambridge.
The new �10million extension to St Ives Business Park, off Harrison Way, is scheduled to be ready in September - around the same time the St Ives to Cambridge Guided Bus is due to open.
The project, built by Foxton-based developers Endurance, started in November and once completed will feature two office blocks with room for nine firms across both.
Endurance director Tim Holmes said there had already been interest from parts of the regional health service and from a high-tech business currently based at Cambridge Science Park.
"The Guided Bus, due to open at around the same time is regarded as key in this," he said. "People who live in St Ives could cycle to work and people from Cambridge could use the Guided Bus.
"It makes economic sense, we are renting out at �17.50 per square foot, compared to �25 in north Cambridge. This works out at a saving of �200,000 a year on Cambridge locations - businesses could save 30 per cent in rent."
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He added that with low interest rates, some companies were considering buying a whole building and leasing it out to others.
Councillor John Davies, chairman of Huntingdonshire District Council, told The Hunts Post: "The St Ives Business Park is a dream that I have had for more than a decade, to provide quality designed office buildings in a great setting, but above all to provide quality jobs in the St Ives and Huntingdon area."
He added: "This extension is a welcome boost of confidence, helping to support the local economy and creating new jobs.
"Locally we have a profound number of highly qualified people who in the near future may not need to commute to those quality jobs elsewhere.