Addenbrooke’s Hospital significant rate saving
Healthcare, Advisory - Rating
Cambridge University Hospitals NHS Trust
This project was also worked on by Ben Pain who is an Associate, specialising in Advisory, Advisory - Rating.
Montagu Evans have advised the Cambridge University Hospitals NHS Trust since the early 1990’s and latterly much of our advice has centered on the Addenbrookes site where significant development of adjoining land has taken place.
As a major teaching hospital Addenbrookes has close associations with organisations and commercial entities engaged in pharmaceutical and bio-medical research. The hospital is located at the southern extremity of Cambridge in an area identified for the city’s expansion and development for uses which are symbiotic with the hospital’s teaching and research activities.
Over the last 10 years the hospital and adjoining land owners have master planned the development of several sites at the western and southern boundaries of the hospital. These projects included the new Papworth Hospital and facilities for Astra Zeneca and Ab-Cam. The development began in earnest in 2015.
Naturally, development of this scale and duration comes with consequences for its neighbours, and Montagu Evans secured a significant reduction in the business rates liability for a two year period to take account of the disturbance arising from the development and the disruption to the running of the hospital.