‘Tremendous news’ as importer chooses Suffolk site for growing network
PUBLISHED: 17:17 07 July 2020 | UPDATED: 17:17 07 July 2020
Michael Cameron Photography
A consumer goods importer has snapped up a giant warehouse on the edge of Bury St Edmunds.
The sale of the 206,000sq ft SP206 shed to M H Star – which imports goods via the Port of Felixstowe – means that developer Jaynic has now sold all of its first phase of warehousing at the site.
The next phase is for four warehouses measuring 37,000sq ft, 80,000sq ft, 100,000sq ft and 150,000sq ft, is in the offing at the 114-acre park, which has outline planning consent for 2 million sq ft of business, distribution, and industrial space.
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Jaynic development director Ben Oughton said the sale – for an undisclosed sum – was “great news” and further underpinned the park’s prime location by the A14.
“Having successfully completed and found occupiers for our first phase we have now received planning consent for a second phase of four big sheds and will start construction in the near future as there is little supply of new space in the region.”
Moris Ye, assistant manager for UK operations at M H Star UK, said his business hoped to continue doing business with Jaynic as his firm continued to expand.
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“Choosing to purchase this warehouse from Jaynic was an easy and straightforward decision from us at MH Star UK,” he said.
“With our business evolving and growing rapidly, we needed extra distribution space to fulfil our ongoing and future requirements.
“The Bury St Edmunds warehouse will be the third in our property portfolio and we are excited to be setting up in such a lovely town, where we can give back to the community and create job opportunities for the local residents.
Charles Binks of Knight Frank, which acted with Charles Palmer Properties for M H Star, said: “After an extensive search for a unit which we could purchase freehold, together with its proximity to the port of Felixstowe where many of the company’s products arrive into the UK, we were delighted to agree terms to buy a unit of the quality offered at Suffolk Park and this will now form a key part of MH Star’s UK network and play a significant role in supporting their continued growth.”
Councillor John Griffiths, leader of West Suffolk Council, described the deal as “tremendous news”.
Suffolk Park is quickly becoming a major employment hub for the town and 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 unlock land and infrastructure for the Suffolk Business Park, is becoming a reality.”
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