British chip company Arm is expanding its presence in Cambridge.

According to British Land, Arm has signed a lease to take over new office and laboratory space at the developer’s Peterhouse Technology Park.

The building, dubbed The Optic, is scheduled for completion in February 2025. Arm already occupies all six buildings at Peterhouse Technology Park, totaling 330,000 sq ft (30,658 sqm).

The Optic is fully electric and, according to British Land, has been developed “to the highest sustainability standards,” featuring 94 EV charging points and solar panels. British Land said the building should achieve an ‘Excellent’ BREEAM rating upon completion.

“Arm is a globally significant business and its commitment to expand in Cambridge and the UK demonstrates the strength of our tech ecosystems and the growing demand for high specification offices and lab spaces in the Cambridge area,” said Michael Wiseman, head of workspace leasing and science & technology, at British Land. “The UK, particularly the Golden Triangle, is ideally suited to support the growth of the world’s top innovation firms, like Arm, due to its world-class academic and research institutions and deep pool of talent.”

British Land is one of the largest property development and investment companies in the UK.

In September 2023, the company sold a portfolio of data centers for £125 million ($152.2m). Although details of the portfolio or the buyer weren’t shared, in July of that same year, reports surfaced that Savills was seeking buyers for a portfolio of Vodafone-occupied office and data center buildings across London owned by British Land.

Known as the Network Portfolio, it comprised six facilities spanning a total of 260,000 sq ft (24,155 sqm).