Jaynic, the developer of Suffolk Park in Bury St Edmunds, Suffolk, has gained detailed planning consent from West Suffolk Council for a second phase of warehouse units totalling 367,000 sq ft.
The consent 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 2 million sq ft of business, distribution and industrial space.
This follows on from its first phase where it developed two warehouse units totalling 357,000 sq ft. The 147,000 sq ft building was successfully let to Unipart acting as the provider for the NHS Supply Chain last Summer, and it is in detailed negotiations with occupiers on its second 206,000 sq ft unit.
Ben Oughton, Jaynic development director says: “Despite the current health crisis there is strong evidence that there is still significant demand for well-located logistics warehouses. We felt that as the first phase is proving successful with Unipart taking the first unit and the current strong demand for the second unit the time was right to go ahead with a further second phase of speculative units.
“Suffolk Park is located immediately adjacent to the A14 trunk road providing a fast transport link from the east coast ports through East Anglia and into the national motorway network that provides an ideal location for logistics companies,” adds Oughton.
Cllr John Griffiths, Leader of West Suffolk Council, said: “This investment by Jaynic, shows continuing market confidence in West Suffolk both now and beyond the current global crisis of the coronavirus pandemic. It’s good to see that the vision set out by the Council when it led on work with partners to make Suffolk Park a possibility, is now becoming a reality.”
A recent report from Savills on big shed supply highlighted the lack of new speculative units in East Anglia. At the time the report commented that: “there are no speculative units scheduled for delivery in 2019” and pointed out that the first phase of units at Suffolk Park units were the first speculative warehouses to be delivered in the region for over a decade. Encouraged by this Jaynic has gained planning consent for this second phase.
The Suffolk Park agents marketing the development are Bury St Edmunds based Hazells Chartered Surveyors, Cambridge agents Bidwells and Savills London’s logistics department.