Wednesday 12th August 2020
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Suffolk Park

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Development at Suffolk Park, in Bury St Edmunds continues apace with the contract for the 112,000 sq ft first phase of Treatt plc’s new HQ recently awarded to Readie Construction. The contractor started on site in September with completion scheduled for Summer 2020.

Earlier this summer developer Jaynic let one of its two speculative warehouse units on the park. The 147,000 sq ft building has been let to Unipart acting as the provider for the NHS Supply Chain, on a 25-year lease at an agreed rent equating to £5.95 per sq ft. The resultant investment was then sold to the Charities Property Fund for £17.25m reflecting a net initial yield of 4.77%

Discussions are in hand with prospective occupiers on the larger 206,000 sq ft warehouse unit. The specification includes 12.5 metres clear height, 30 HGV parking spaces, 50kn/m2 floor loading, 50m yard depth, high speed fibre/data, full air-conditioning, and a BREEAM “Excellent” rating.

Because of this success it is about to seek detailed consent from West Suffolk Council for a further 367,000 sq ft of warehouse units.

In the coming weeks Jaynic will be submitting a detailed planning application for four “Big Sheds” of 37,000 sq ft, 80,000 sq ft, 100,000 sq ft and 150,000 sq ft, respectively.

And in recent months Jaynic has completed terms with the East of England Ambulance Service NHS Trust (EEAST) for a new 26,000 sq ft Make Ready facility.

The park located close to Junction 45 of the A14 linking the project to the port of Felixstowe, Cambridge, the M11 and the UK motorway system, has consent for 2m sq ft of business, manufacturing and distribution space.

Ben Oughton, development director of Jaynic, says: “There is little or no supply of top quality space in the region that is currently available which makes Suffolk Park the ideal location for expanding East Anglian companies with the added benefit that 37-acres have been given  enterprise zone status by West Suffolk Council and New Anglia Local Enterprise Partnership.

Qualifying occupiers can obtain up to £55,000 pa of business rates relief for five years totalling £275,000.

Oughton, says: “The enterprise zone designation is a major plus for Suffolk Park and a great incentive for expanding companies in the region to consider.

“Suffolk Park is currently the only major allocated employment site in Bury St Edmunds with planning consent. Occupiers’ requirements for buildings in a range of sizes from 2,000 sq ft up to 750,000 sq ft, in a single building, can be accommodated within 12-15 months from now,” adds Oughton.

Councillor Griffiths, Leader of West Suffolk Council,  said: “This activity at Suffolk Park is helping to create new jobs and new opportunities for our residents and continue to ensure that West Suffolk remains a great place both to live and to work.”

Housing and education infrastructure is well provided for adjacent to the park. Taylor Wimpey’s 500-home Moreton Hall scheme is being developed in parallel and the recently opened Sybil Andrews Academy School opposite includes the Skyliner Sports Centre which offers discounts to corporate occupiers.

The development is part of a broader multi-partner initiative with St West Suffolk 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.

Agents on the scheme are Bury St Edmunds based Hazells Chartered Surveyors, Cambridge agents Bidwells and Savills London’s logistics department.