Distribution space bonanza at Suffolk Park
As a major show of confidence in the Bury St Edmunds industrial and logistics property market, developer Jaynic is seeking detailed planning consent for two major distribution sheds totalling 350,000 sq ft at its 114-acre Suffolk Park scheme.
The development is part of a multi-partner initiative to support a range of new and existing businesses in the Bury St Edmunds area and to continue to create jobs and prosperity. It is envisioned that the development will have a mix of businesses.
The reserved matters application submitted to St Edmundsbury Borough Council is for one unit of 205,000 sq ft and one of 150,000 sq ft. Jaynic plans to develop them speculatively to capture unsatisfied demand from occupiers seeking to lease large distribution space along the A14 corridor.
Simon Wilson, Suffolk Park project director at Jaynic, says “We are aiming for a decision by Autumn 2017. A positive outcome would enable us to have units ready for occupation in Quarter 3, 2018, comfortably ahead of anything comparable in the East of England region.”
Richard Sullivan, Savills’ national head of industrial and logistics adds: “The supply of large, good-quality industrial and distribution units in the UK is at an all-time low.
“The ability to deliver units of this size and specification into the region offers an excellent opportunity to attract new occupiers to Bury St Edmunds as demand from a wide-range of logistics operators remains at an all-time high.”
Suffolk Park is adjacent to the new Eastern Relief Road leading to Junction 45 of the A14 which can accommodate up to 2 million sq ft of business, distribution and industrial space. Also, it provides a unique opportunity for a ‘regional hub’ single distribution warehouse of up to 750,000 sq ft.
Earlier this year, St Edmundsbury Borough Council granted Jaynic, as development promoter, outline consent for B1 (office, research & development and light industrial) and B8 (warehousing, storage and distribution) development for the whole 114-acre site. The park includes Enterprise Zone status on 35 acres.
A 10-acre site has already been pre-sold to Treatt – a leading beverage ingredients manufacturer for a new 200,000 sq ft global headquarters facility to be constructed within the Enterprise Zone.
Jaynic is finalising a construction contract for the infrastructure works with the intention that the main estate road between the Eastern Relief Road and Lady Miriam Way and associated infrastructure works will be completed by the end of this year.
Bury St Edmunds based Hazells Chartered Surveyors are local agents for the scheme and interested parties should contact either Jonathan Lloyd or Richard Pyatt on 01284 702626.
Savills, Industrial and Logistics’ department in London has been instructed to advise on the Big Shed potential.