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Jaynic to build 160,000 sq ft unit in Suffolk Park

Developers Jaynic have secured a £13.8m loan from lenders Fortwell Capital so that they can develop a 160,000 sq ft industrial unit in Suffolk Park. The demand for space in the area has accelerated the development of Suffolk Park, a 2,000,000 sq ft project from Jaynic which began in 2017, and was expected to take 10 years to complete. Following the cash injection from Fortwell and the construction of this new unit, there will only be 12.5 acres (544.500 sq ft) left for development after only 5 years. The speed of progress for this project shows the rate at which demand for space in the area has grown, and is anticipated to increase further.

Where is Suffolk Park?

Suffolk Park is an industrial employment site in Bury St Edmunds, an hour away from the Port of Felixstowe, and is under development by Jaynic. The site is approximately 1.4 miles off of the A14 at junction 45. The A14 connects the Port of Felixstowe with Manchester and Cambridge, with connections to major roads A1, M11/A11, M1, and A12. The park is 83 miles from London.
Suffolk Business Park began construction in 2017, and has so far contracted over 1.4m sq ft of space. The largest unit on site is the Weerts Warehouse, which is 840,000 sq ft. Once complete, the site is expected to be 2m sq ft in size.

Is Suffolk Park inside Freeport East?

Freeport East is one of the 8 freeports agreed in England after Brexit, focused on the Ports of Felixstowe and Harwich. Although the Suffolk Business Park is close to the Port of Felixstowe, the industrial space is not inside the freeport boundary. Therefore, standard calculation of duty and Vat will apply to any goods that you move from the Port of Felixstowe to Suffolk Park. Although the space is not within Freeport East, the location along the A14 provides strategic value to both domestic and international trade.

How close is Suffolk Business Park to other key ports?

The 2nd closest seaport to the Suffolk Business Park is London Gateway, which is situated 86 miles away. Dover is the nearest after that at a distance of 139 miles.
Airports local to the park are London Stansted, which is 50 miles away, and Luton, which is 65 miles away.
The closest rail port is the DIRFT in Daventry, at a distance of 93 miles.

Do you want to know more about the growing demand for space in Suffolk?

With our headquarters being based next to the Port of Felixstowe, we are kept informed of the changes to the local infrastructure. If you want advice on Freeport East, bonded warehousing, or other customs clearance processes, contact one of our experts today.

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