Small businesses will be able to rent a space in the Guildhall after Cambridge City Council struck a deal with charitable organisation Allia
The council hopes the move will boost support for start-up enterprises and the city centre economy.
It has agreed terms for Allia to let 680 square metres on the ground floor from the autumn for an initial two-year period, with the potential to extend.
The non-profit organisation will let workspace to start-ups, charities and enterprises, creating an innovation business community, with a dedicated reception, a range of private offices, a co-working suite and meeting rooms.
The new Allia Future Business Centre also has the potential to contain a shop, a café and a large exhibition space for community art groups and networks.