Morgan Stanley has signed CAD engineering software design pioneer Aveva for all of the 80,000-square-foot 101 Milton Park office at Cambridge Science Park.
Aveva was already in 11,000 square feet at the multilet building but has taken advantage of other occupiers including Citrix, Huawei and Grant Thornton leaving to take on other floors. It has now completed the lease of 53,214 square feet and has also agreed to take the remaining space when it is vacated to occupy all 79,822 square feet.
Aveva started as the Computer-Aided Design Centre (CADCentre) which was created in Cambridge in 1967 by the UK Ministry of Technology and Cambridge University. It has traditionally leased space in west Cambridge as well but has been looking for new space at the 2009-built 101 Milton Park for expansion.
Morgan Stanley bought 101 Cambridge Science Park for £50.1 million from LaSalle Investment Management on behalf of a client, in a transaction first revealed by CoStar News in March 2021. The building was acquired for the Morgan Stanley Prime Property Fund Europe.
The property comprises officers over ground and two upper floors. The building is ‘Very Good’ BREEAM rated and offers roof PV installation, newly developed secure bike storage, a shower drying room and 13 electric car-charging points in addition to a large car park. It is on one of Europe's leading science parks.
DTRE and Savills represented the landlord. CBRE represented Aveva.