The Marshall Aerospace and Defence Group has confirmed its intention to move its Cambridge-based operations to a new location by 2030.
Chief Executive, Alistair McPhee, explained: “Having now completed a significant piece of work to identify and define our new organisational purpose and long-term growth ambition, it has become increasingly clear that a move to new, purpose-built facilities will afford us a fantastic opportunity to fulfil our true potential as a business.
“It is still very early days, but we know that finding the right airfield location that will give us the necessary space and flexibility to support our planned growth, which is close enough to Cambridge to enable us to retain and attract talent, will be a complex and time-consuming task.
“At this stage, we have a number of potential locations in mind but are still some way away from making any definitive decisions. Cranfield, Duxford and Wyton are currently our preferred options and we will work with all three locations over the coming months to further assess their feasibility.
“However, the Cambridge site will continue to be our home for many years to come, and in parallel with planning for our long-term future, we remain committed to our investment plans for the site that will see us spend more than £30m over the next five years to upgrade existing infrastructure.
“We have won a number of very significant programmes over the past 18 months and delivering those, along with continuing to support our long-term customers, will be our key priority as we plan for the next exciting chapter of our history.”
In parallel, with the Marshall Aerospace and Defence Group announcement and in order to finance the move, the Marshall Group has recently signalled its intent to the local authorities and other key stakeholders, to put the Cambridge Airport site forward for development as part of the next Local Plan from 2030. Property prices in Cambridge are almost as high as those in London.