Government approves Railpen's 1 million sq ft innovation park in Cambridge

Railpen has secured government approval for its Beehive development, a 1 million sq ft laboratory and innovation park in Cambridge, marking a major expansion of the city’s science and technology infrastructure.

The Secretary of State for Housing, Communities and Local Government, Steve Reed, granted planning consent following an earlier decision by his predecessor to call in the application. The project will redevelop the existing Beehive retail park into a mixed-use site focused on research, technology, and innovation.

The approved masterplan includes laboratories, workspaces for tech businesses, a new community park, a youth and community hub, a science centre, and approximately 20 shops, restaurants and cafes. Significant public transport upgrades are also planned, with projections indicating the removal of over 10,000 cars from local roads.

Railpen, which manages the UK’s £34bn Railways Pension Scheme, said the Beehive would deliver substantial social and economic benefits. Employment is expected to grow from 855 full-time equivalent roles to around 6,500, with more than 2,000 of those being entry to mid-level positions. A careers academy is also planned to support workforce development.

The site is projected to contribute an estimated £600 million in additional annual Gross Value Added (GVA), bringing the total economic output supported by the Beehive to approximately £655 million. Tax revenue impacts are estimated between £180 and £240 million annually, alongside an £8.5 million increase in business rates.

The consent also enables Railpen to proceed with upgrades to the adjacent Cambridge Retail Park, where improvements include the relocation of key retailers and enhanced landscaping. A new Starbucks in a landscaped setting has already been completed as part of the first phase.

Andy Bord, CEO of Railpen, welcomed the decision, describing it as a "milestone for the Oxford-Cambridge Growth Corridor" and a demonstration of continued international confidence in the UK business environment. He said the Beehive would make a "meaningful and lasting contribution" to Cambridge’s economy and support national growth goals.

The Beehive is part of Railpen’s broader Innovation Cluster in Cambridge, comprising 11 assets and totalling 1.9 million sq ft. Other key sites include the consented 230 Newmarket Road, the proposed Mill Yard mixed-use campus (180,000 sq ft), and Botanic Place, a 325,000 sq ft headquarters development due to complete in Q1 2028.