Cumming Group, under the name of MHBC Cumming, has been appointed by Schroders to monitor the design and construction of a new office development at Cambridge North. The £48 million funding commitment will deliver a new highly sustainable building of just over 100,000 square feet, providing 94,000 square feet of offices and 6,000 square feet of retail, along with 53 below-ground car parking spaces, all of which are equipped for electric vehicles. Provision for 298 cycle spaces will be made available at basement level, with an additional 66 spaces at ground level.

Construction started in October 2020, with completion scheduled for late 2022. Cumming Group worked with Schroders and their legal team to carry out the necessary technical due diligence and negotiate the necessary Development and Funding Agreement with Brookgate over a short six-week period.

Our ongoing role is to sign off on the design, monitor the construction and approve the drawdown of funds on a monthly basis. The Funding Agreement is structured to allow Schroders to incorporate, under Cumming Group’s guidance, additional features into the building to enhance its sustainability credentials.