7 DEC 2017
Building on the success of securing Treatt as an anchor occupier, and as part of a wider vision to provide a mix of high quality business space which appeals to cutting edge and innovative companies, developer JAYNIC, has now secured detailed planning consent for two major distribution premises at its 114-acre Suffolk Park.
JAYNIC intends to develop the two units, totalling 352,402 sq ft (32,739 SQ M) which it intends to develop speculatively as a show of confidence in the East Anglia distribution market and against the current lack of available supply of Grade A space in the market.
The reserved matters consent is for two units of 205,829 sq ft (19,122 SQ M) and 146,573 sq ft (13,617 SQ M) respectively with 12.5m eaves heights, 50m deep service yards, level access and dock loading together with ancillary offices.
Ben Oughton, Development Director at JAYNIC comments:
"We have consulted in detail with St Edmundsbury Borough Council's planning department to agree a scheme which will appeal to forward thinking warehousing businesses, who we anticipate will also help stimulate growth and create a range of jobs by using new technologies.
"JAYNIC intends to develop the units speculatively to capture unsatisfied demand from occupiers wanting to lease large distribution space along the A14 corridor. This will enable us to have units ready for occupation in Quarter 3, 2018, comfortably ahead of anything comparable in the East of England Region,"
Cllr John Griffiths, Leader of St Edmundsbury Borough Council said
"This is the next step towards enabling the successful growth of our local businesses, as well as attracting new enterprises to West Suffolk and the Suffolk Business Park. We want to attract the mix and types of businesses who are innovative and contribute to growing skills and expertise across West Suffolk and with it levels of pay. This will create new opportunities for younger people as they leave education, and with it even greater wealth, prosperity and better living conditions for our local residents."
Jonathan Lloyd of Hazells, local agents on the scheme, comments,
"We believe that these units will prove very popular with occupiers who want to move quickly. There is approximately 3.5m sq ft (325,158 SQ M) of demand in the region, with Bury St Edmunds being in the centre of that region but with a historically low supply."
The development is part of a multi-partner initiative with St Edmundsbury Borough Council and housebuilder Taylor Wimpey to support a range of new and existing businesses in the popular Bury St Edmunds area and to continue to create jobs and prosperity. It is envisioned that the development will have a mix of businesses.
Suffolk Park is adjacent to the new Rougham Tower Avenue leading to Junction 45 of the A14. The infra-structure and landscaping contracts for Suffolk Park have been let and are under construction with completion due in the 1st Quarter of 2018.
The project includes a 36-acre Enterprise Zone where business rates savings of up to £55,000 per annum and is being developed in parallel with Taylor Wimpey's adjacent 500-home Moreton Hall scheme.
For further information, please visit: suffolk-park.uk
National Head of Industrial and Logistics - Savills