Promoter appointed to develop Masterplan for expansion of Suffolk Business Park in Bury St Edmunds
- Credit: Archant
The development of a 114-acre site in Bury St Edmunds – including part of New Anglia LEP’s region-wide Enterprise Zone – has taken a further step forward.
Business and research park specialist Jaynic Properties has been appointed by landowner Taylor Wimpey as development promoter for the site, which is part of St Edmundsbury council’s allocation of 168 acres for the extension of the Suffolk Business Park.
It includes 35 acres with Enterprise Zone status, one of 10 sites across Suffolk and Norfolk forming part of New Anglia LEP’s “Space to Innovate” enterprise zone, which offers breaks to attract new investment and aims to create 18,500 jobs over the 25-year lifetime of the project, including 5,000 by 2021.
Jaynic’s brief from Taylor Wimpey and the council is to work up a detailed masterplan and apply for outline planning consent for the agreed range of uses before Christmas this year, and then implement the works and infrastructure as quickly as possible.
Employment uses will include office, research and development, light industrial, general industrial and warehousing, but the scheme is also likely to include facilities to support both new and existing occupiers of the business park, such as a hotel, a pub and a creche.
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In all, there is potential for up to two million sq ft of floorspace for new employment use. Freehold serviced plots will be offered and bespoke properties from 10,000 sq ft upwards will be available to let or for sale.
Jaynic has already appointed Bury St Edmunds-based Hazells Chartered Surveyors as agents for the scheme.
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Nic Rumsey, managing director of Jaynic, said: “We are delighted to be appointed after a detailed selection process. This is a key site and provides a significant proportion of the strategic employment allocation for Bury St Edmunds.”
John Griffiths, leader of St Edmundsbury council, described the appointment of Jaynic as “another major step in turning our vision into a reality”.
He said: “We know that we have some very successful local businesses that need more space to develop, and we know that this site’s prime location between the Port of Felixstowe and the science and innovation centre of Cambridge, as well as its ease of access to London, make it a very attractive proposition.”
Steve Rolt of Taylor Wimpey added: “We are delighted that the project is going forward and are confident that Jaynic will be successful in fulfilling their brief.”
Enterprise Zone status means any company taking new accommodation within it will qualify for relief of up to £55,000 a year against the rates payable for five years.
A £15m relief road, funded by New Anglia LEP, St Edmundsbury council and Suffolk County Council, is due to be completed by the summer of 2017, improving access to the Suffolk Business Park from the A14.
Jaynic Properties is already involved in a number of business parks around the region, including the Cambridge Research Park, the Buckingway Business Park, also in Cambridge, the University of Essex Knowledge Gateway in Colchester and the Haverhill Business Park.