Cambridge, UK

How the development of a cluster of sites in Cambridge, UK, could benefit members of the RPS.

Case study

As part of its investment in property, Railpen, the investment and administration manager of the railways pension schemes, is developing a cluster of sites in Cambridge, UK.  

It’s a great example of place-based investments, which aim to secure financial returns for our members, and have a positive local impact too. Read on to find out more… 

What are we investing in?

Cambridge is renowned for science and innovation having been at the forefront of research and development for almost a century. It is also a hub for global businesses in STEM-related industries (Science, Technology, Engineering and Mathematics) and home to one of the world’s best universities, which together contribute tens of billions to the UK economy - with the potential to grow even further in the years to come. 

Case studies

Railpen’s investment in Cambridge centres around creating a cluster of high-quality spaces, including sustainable offices, laboratories and research facilities and residential space. 

The sites will be built to the highest environmental and wellbeing standards, with the addition of parks and green spaces, as well as shops, restaurants, cycle hubs and a learning centre focussed on science, technology, engineering and mathematics (STEM).  

Our plans include: 

A representation of the Devonshire Gardens site

Mill Yard – a new, largely car-free, mixed-use development close to Cambridge Station. The development will provide highly sustainable workspaces and residential accommodation, with a landscaped park, events space, creche, cafes, bars, restaurants and a fitness centre.  

 

A CGI illustration of Botanic Place

Botanic Place – which is set to be the most sustainable speculative office scheme outside London. Inspired by the nearby Cambridge University Botanic Gardens, the workspace will use modern technology to be highly sustainable, energy-efficient, and sensitive to the wellbeing of the community.  

An illustration of Hive Park

The Beehive – a new world-class innovation park, and an exciting retail and social hub. Providing workspace for businesses, laboratories for research, curated gardens and independent retail outlets for both occupiers and the local community.  

There are also additional plans to develop and enhance the existing Cambridge Retail Park and create a new office building, restaurant and leisure area close by at Newmarket Road.  
What does this mean for RPS members?

Because we're a pension scheme with sections that are open to new members, we take a long-term approach to investing, being mindful that an 18-year-old who joins the rail industry today may not retire for 40 years or more.  

This long-term approach gives us the ability to invest in assets that typically take more time to achieve returns, but can bring much greater reward for our members.  

Investment in physical things like land, property, infrastructure and natural resources, are an important part of this strategy.  

The developments in Cambridge will place Railpen at the heart of the city’s ambitions across sciences and technology. We anticipate huge growth in both sectors, which could bring significant long-term benefits for members’ pensions.  

You can find more information about where we invest, and why, on the following pages: 

What does it mean for Cambridge?

The developments in Cambridge, will not only help provide the diversification, stability and long-term reliable growth the Scheme needs to help secure our members’ future, it will also deliver positive social, economic and environmental value to the city and its residents. This includes:  

A group of school children in discussion
Education, training, and employment 

Railpen’s developments will create over 3,000 new jobs locally, including many entry-to-mid-level positions that require no specialised qualifications, offering on-the-job training. Our construction partners will offer apprenticeships to local people during construction of the sites. We're also collaborating with other local organisations to create pathways to employment and apprenticeships.  

Community, engagement and volunteering

Local people, community groups and businesses know their area better than anyone else, so Railpen have worked with them to identify where the project could provide tangible wider community benefits through the developments in Cambridge, such as: 

A group of people from The Phoenix Trust displaying bird boxes

  • delivering over 3,400 volunteering hours to local causes and not-for-profit organisations. 

  • prioritising local SMEs (small and medium enterprises) and protecting jobs for under-served communities to create better outcomes for local people.  

  • Collaborating with local public transport services to add more buses and routes, extend services to the bus and train stations, introduce new Park & Ride options, and offer direct routes to nearby areas.  

  • Working with partners to support vulnerable groups and under-served communities, as well as women, girls and young people.  

A cyclist moving past a hoarding that says respect and diversity in our community. Image by Matthew Power Photography.
Prioritising active travel

Across each of our developments, we will create new pedestrian thoroughfares and bicycle facilities that integrate with local cycle routes. The Devonshire Gardens development is being created on active travel principles, meaning it will be largely car-free (with the exception of blue badge spaces), to minimise traffic impact on the surrounding area.  

Limiting the environmental impact

Sustainability has been a consideration from the earliest stages of design for the Cambridge developments – which means we can deliver reduced environmental impact.  

A woman and young child planting in the garden. Image by Matthew Power Photography.

The buildings themselves will be leading examples of sustainability, both in how they are built and how they operate. 

We’re also introducing more green spaces to Cambridge, in the form of new gardens and a public park. These green spaces are designed to bring the community together and let people enjoy nature. We’ll be planting hundreds of trees, and we aim to increase biodiversity by up to 280% across our developments, with the introduction of bat and bird boxes. 


 

Where can you find out more?

For more details about the Cambridge developments specifically visit railpencambridge.com    

You can find more general information about where we invest, and why, on the following pages of your member website: 

And on the Railpen website at railpen.com/investing  

What to read next...

Our approach to investing

Railpen focuses on the needs of you, as a member, and the Scheme, as part of the overall investment approach and beliefs. 

Where we invest

Railpen invest in a range of asset types both in the UK and around the world. This delivers better long-term outcomes for our members, and more resilience against current and future risks.

Sustainable Ownership

Learn more about the work we've done to incorporate sustainability into the investments we manage, while still aiming for the best possible financial returns.