Companies on the move

Dec 06, 2007

Ideapharma and Cognisco have both moved into Medway Court, the newly completed next phase of the park built by developer St Modwen. It comprises a two-storey office building of about 15,000 sq ft and four business units totalling 23,000 sq ft.

The firms have each taken 4,840 sq ft in Conway House.

The new buildings will help to satisfy the increasing demand for accommodation from knowledge-based businesses in this well-established hi-tech environment. More than 40 companies employing more than 500 people now operate from the park.

Robin Vaughan, of St Modwen, said: "The latest development phase continues our ethos of enabling existing occupiers located on the park to expand into larger premises as they grow their businesses. We are also attracting new companies into the technology park community from the local and national market.

"This phase was built speculatively in a competitive local market and shows our confidence in Cranfield Technology Park as a central location for hi-tech businesses, creating and utilising synergies with the university academic campus."

A masterplan is under development for future phases that will continue to expand the scheme. Planning permission already exists for a 31,000 sq ft three-storey building, on which work is due to begin later this year.

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