Jaynic Secures Development Loan Finance From Fortwell for 160,000 Sq Ft Warehouse Unit At Suffolk Park, Bury St Edmunds

Fortwell Capital, principal lender to developers and investors within the UK and Ireland, has provided a new £13.8 million development loan to business space developer, Jaynic for the construction of a new logistics unit at Suffolk Park, in Bury St Edmunds, Suffolk, UK. In doing so Fortwell has now funded over 1 million sq ft of industrial real estate since 2019.

Fortwell’s loan will be used to develop a new 160,000 sq ft unit at Suffolk Park, a key commercial location in the region. Suffolk Park has exceptional transport connections via the A14 Corridor, linking it to Felixstowe, the UK’s largest container port, and to the Midlands and London via the M11, M25 and M1.

The Suffolk Park scheme has been a resounding success since planning consent was obtained in 2017 with 1.4 million sq ft transacted to date. Occupiers include Hermes Parcelnet Ltd, Weerts Group, MH Star UK Ltd, Unipart Logistics, Treatt, Sealey, The East of England Ambulance Trust and Skechers.

Jaynic is Fortwell’s fifth borrower in the industrial/logistics space, with the single unit at Suffolk Park the largest the alternative lender has funded. The deal reflects Fortwell Capital’s strategic focus on lending opportunities within sectors and regions where there is strong commercial activity, accessibility, and high and rising demand for quality assets.

Nikos Yerolemou-Ennsgraber, Director, Fortwell Capital, commented: “First and foremost, we are excited to be working with Jaynic to deliver this unit at Suffolk Park. Jaynic has already demonstrated their ability to deliver high quality, institutional units at the scheme, and we are looking forward to supporting the next phase of the park’s development. We anticipate the demand for larger industrial units will remain strong as more businesses seek to strengthen their distribution facilities in both domestic and international markets.”

Gary McCausland a director of Jaynic said: “We are delighted to be working with Fortwell Capital on this next phase of our development at Suffolk Park. Once these buildings are completed there will be just 12.5 acres remaining for development at the park. The speed with which space has been taken has surpassed all our expectations. We had expected the project to be built out over 10 years and there is every chance that this could occur in just six. This reflects the acute shortage of space with demand continuing to grow and companies taking on additional space to ‘future proof’ their needs. It also demonstrates the growing reputation of Suffolk Park and the A14 corridor as a credible institutional investment location.”

Simmons & Simmons acted for Fortwell, Wedlake Bell for Jaynic. Agents for the scheme are Hazells, Savills and Bidwells.