Property developer Jaynic has won detailed planning consent for a 47,000 sq ft warehouse at its Suffolk Park development in Bury St Edmunds, Suffolk.
The developer will develop the unit speculatively with the construction contract being put out to tender shortly, giving a tenant the possibility of occupying the building by the beginning of next year.
Development director Ben Oughton, says: “There is little or no supply of warehouse space coming out of the ground in the region and given the considerable demand from occupiers we are confident that we will find an occupier for the building during the construction phase.”
The consent follows on from SP160, where construction is now underway for a 160,000 sq ft speculative warehouse and Jaynic is currently in negotiations with potential occupiers for the building.
Once these two buildings are completed there will be just 12.5 acres remaining at Suffolk Park for development.
Oughton comments: “The speed with which space has been taken at Suffolk Park 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 four years. This reflects the acute shortage of space with demand continuing to grow and companies taking on additional space to ‘future proof’ their needs.”
Marketing agents for Suffolk Park are Hazells, Savills and Bidwells.