Rising ‘Star’ as business sees European potential in Suffolk post-Brexit
Jaynic has sold the SP206 warehouse at Suffolk Park in Bury St Edmunds to consumer goods importer M H Star – completing the developer’s disposal of its first phase of warehouses.
No figures are being released by either side but there is a wider significance in the deal given the proximity of the location to Felixstowe.
There is a body of opinion that Felixstowe will become an even more vital Channel crossing should the Dover-Calais option become too congested or even gridlocked after Brexit.
Ben Oughton, development director of Jaynic, said: “The sale of this warehouse to M H Star is great news and further underpins the park’s prime location adjacent to the A14, just a mile from Junction 45, giving M H Star great links into the national motorway network.
“Having successfully completed and found occupiers for our first phase we have now received planning consent for a second phase of four big sheds and will start construction in the near future as there is little supply of new space in the region.”
Moris Ye, assistant manager of UK Operations at M H Star UK Ltd, added: “Choosing to purchase this warehouse from Jaynic was an easy and straightforward decision from us at MH Star UK. With our business evolving and growing rapidly we needed extra distribution space to fulfil our ongoing and future requirements.
“The Bury St Edmunds warehouse will be the third in our property portfolio and we are excited to be setting up in such a lovely town where we can give back to the community and create job opportunities for the local residents.
“We are very happy with the deal made with Jaynic and hoping we can continue doing business with each other in the near future as we continue to expand.”
Charles Binks of Knight Frank, which acted with Charles Palmer Properties for M H Star, said: “After an extensive search for a unit which we could purchase freehold, together with its proximity to the port of Felixstowe where many of the company’s products arrive into the UK, we were delighted to agree terms to buy a unit of the quality offered at Suffolk Park and this will now form a key part of MH Star’s UK network and play a significant role in supporting their continued growth ”
Cllr John Griffiths, Leader of West Suffolk Council, said Suffolk Park was quickly becoming a major employment hub for the town. The consent for the next phase is for four Big Sheds of 37,000 sq ft, 80,000 sq ft, 100,000 sq ft and 150,000 sq ft, respectively.
The 114-acre Suffolk Park already has outline planning consent for two million sq ft of business, distribution, and industrial space.
Suffolk Park agents are Bury St Edmunds based Hazells Chartered Surveyors, Cambridge heavyweight Bidwells and Savills’ London’s logistics department.