PwC joins high-powered throng at Maurice Wilkes Building
Global accountancy heavyweight PwC is moving to a new Cambridge headquarters. St John’s College in Cambridge and its development manager Turnstone Estates have agreed a deal for PwC to move from its current offices to a new flagship base of 12,195 sq ft at the Maurice Wilkes Building development on the St John’s Innovation Park.
The firm has signed a 15-year lease, with tenant only break at year 10, for part of the second floor, plus 35 car parking spaces. It is paying £31.75 per sq ft with 12 months rent free.
Sian Steele, who is senior partner in PwC’s Cambridge office, said partners and staff were excited at the proposed move.
She told Business Weekly: “All our 150 people at the Cambridge office will relocate to the new building and we are planning to expand from there. We will bring PwC’s globally influential expertise and best thinking into play on behalf of our local clients trading internationally.”
Work started on the Maurice Wilkes headquarters building at the gateway to the park earlier this year and development, as well as tenant recruitment, are well ahead of schedule.
Due for completion in early summer 2018, it will provide 64,445 sq ft of Grade A office space arranged over five floors, plus reception and roof terrace measuring 2,077 sq ft.
The building is located in the heart of the North Cambridge Research and Development Cluster, connections to which were further improved this year with the arrival of the new Cambridge North railway station.
Having already pre-let the top two floors to award winning cyber security specialist Darktrace and with another part under offer, this leaves just one 7,452 sq ft suite on the ground floor and 15,580 sq ft across the first floor of the building available to let.
Suzie Wood of St John’s commented: “We are delighted with PwC’s decision to relocate to the St John’s Innovation Park. We have an expanding number of fast growing entrepreneurial businesses at the park that benefit from the support and community we can offer.”
Chris Goldsmith, managing director of Turnstone added: “The Maurice Wilkes Building will set new standards in the Cambridge office market and work is progressing excellently on site with our contractor Vinci Construction UK.”
St John’s and Turnstone were advised by Savills and Carter Jonas.
Rob Sadler, head of office at Savills Cambridge, said: “This latest pre-let is testament to the strength of the scheme and we are delighted to have secured another highly regarded global occupier. With construction underway in earnest, we expect to receive considerable interest in the remaining space as firms continue to flock to the world-renowned Innovation Park.”