Railpen has received approval from Secretary of State Steve Reed for its transformative Beehive innovation park in Cambridge. The scheme will redevelop the existing Cambridge Retail Park into a leading business district focused on innovation, STEM industries, and the wider UK Golden Triangle.

The Beehive project will deliver around 1 million sq ft of modern workspaces, complemented by retail, leisure, entertainment, and community facilities. It builds on earlier consents, including the 157,000 sq ft office development at 230 Newmarket Road, and forms part of Railpen’s broader Cambridge cluster of 11 assets totaling 1.9 million sq ft.

Following a call-in by the Secretary of State after local planning stages, the final sign-off was announced on December 10, 2025. Railpen, which manages the £34 billion UK railways pension scheme, highlights the scheme’s sustainability credentials, targeting BREEAM Outstanding ratings and net zero operations. The development is expected to support economic growth, create jobs, and provide community benefits in one of the world’s leading life sciences hubs.

The Beehive forms part of Railpen’s wider Cambridge portfolio, which includes ongoing projects such as Mill Yard, a mixed-use scheme near Cambridge station, and Botanic Place, a sustainable office development. Together, these initiatives are anticipated to generate over 3,000 jobs, aligning with government strategies including the £400 million Oxford-Cambridge corridor investment.