Marshall's of Cambridge sign deal which could see it could relocate operations to Bedfordshire

Marshall's of Cambridge and Cranfield University have reached an agreement in principle to relocate Marshall Aerospace and Defence Group to Bedfordshire by 2030.

The move, which has been discussed over a number of months will cause concern for those working at the site who may have to relocate.

The company have signed an option agreement on a 150 year lease for land at  Cranfield after a lengthy search to find a new base so Cambridge airfield can be redeveloped for 12 thousand homes.

The deal - if it happens - would be part of Cranfield University's plans to create a Global Research Airport.

It's understood that RAF Wyton are still an option for MADG, despite today's announcement.

Marshall Aerospace and Defence Group Chief Executive, Gary Moynehan, said: “Whilst it is important to note that the signing of the Option Agreement does not represent a final decision to relocate Marshall Aerospace and Defence Group to Cranfield, we are pleased to have reached an agreement which provides us with a credible relocation option."

Marshall's have already said they're hoping to retain most of the 1,500 jobs at the Cambridge site.

Professor Sir Peter Gregson, Vice-Chancellor and Chief Executive of Cranfield University, said: “We are delighted to be progressing our talks with Marshall through the signing of this option agreement. Located at the heart of the Oxford-Cambridge Arc, Cranfield with its global research airport and MADG would provide a vibrant ecosystem of research, technology demonstration and innovation in aerospace that is unrivalled in the UK.