Treatt acquires site for new headquarters in Bury St Edmunds
- Credit: Archant
Flavour and fragrance solutions company Treatt has purchased a 10-acre site for a new headquarters complex on the edge of Bury St Edmunds.
The company, which currently has its head office in Northern Way, first signalled plans to move to larger and more modern premises more than two years ago, with a preference to remain in Bury where it has been based since 1971.
It has now purchased a site on Suffolk Park, in the Moreton Hall area of Bury, from Jaynic, the development promoter for a 114-acre site owned by housebuilder Taylor Wimpey which includes 37 acres of land with Enterprize Zone status.
The news came alongside an announcement from Jaynic that it has submitted an application for outline planning consent for the main infrastrucutre and landscaping of the wider site and for up to 2m sq ft of business space, including a 750,000 sq ft distribution warehouse.
Proceeds from the sale of the 10-acre site to Treatt, the value of which has not beeen disclosed, will be used to fund the park’s initial infrastructure.
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Treatt, one of the world’s longst-established providers of flavours and fragrances to the food, drink and personal care products sectors, plans to build a 200,000 sq ft headquarters building on its new site, which forms part of the Enterprize Zone.
Dean Taylor, director of operations at Treatt, said: “Treatt is delighted to announce the exchange of contracts at Suffolk Park.
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“This will be one of the most significant company developments in the last 50 years and will revolutionise almost every aspect of the business. It will enable Treatt to excite its customers even more, improve efficiency and further accelerate its growth.”
Suffolk Park forms part of a larger area allocated as employment land as an extension of the established Moreton Hall business area by St Edmundsbury Borough Council in its Vision 2031 local plan.
Nic Rumsey of Jaynic said: “We are grateful for the active support and assistance of St Edmundsbury that has enabled us to get this major planning application submitted within only six months, and are delighted with the swift sale of the first site on the park to Treatt before we have obtained planning.
“This augurs well for the future of the project. Suffolk Park is in a prime location next to the established Moreton Hall area. Accessed from the new Eastern Relief Road due for completion in the Summer 2017, it equidistant between Junctions 44 and 45 of the A14 giving direct access to the whole of the UK motorway network.”
John Griffiths, leader of St Edmundsbury council, said: “After so many years of very hard work by St Edmundsbury and many others, I am delighted that Suffolk Park is now rapidly moving from plans on paper to reality on the ground, alongside a new school, new community facilities, new homes and better transport links through the eastern relief road.
“The very real prospect of new jobs and inward investment is also great news and it is perhaps particularly pleasing that Treatt are looking to build their new global headquarters here. This really is an excellent next step in delivering this ambitious project, not just for Bury St Edmunds but West Suffolk and beyond, and I would like to thank Jaynic and everyone else involved.”
Jaynic hopes to secure outline planning consent in March and plans to have contractors on site to undertake the infrastructure work as quickly as possible. Bespoke properties from 10,000 sq ft upwards will be available to let or for sale.
Enterprise Zone status, which was secured by New Anglia LEP and Suffolk County Council, means that any qualifying company taking new accommodation within the zone will be eligible for relief of up to £55,000 a year against the business rates payable for five years, amounting to a saving of up to £275,000 over that period.
Suffolk Park is being developed in parallel with Taylor Wimpey’s 500-home Moreton Hall scheme. The new Sybil Andrews Academy School opposite has just opened.
Jaynic has appointed Bury St Edmunds-based Hazells Chartered Surveyors as agents for the scheme and interested parties should contact either Jonathan Lloyd or Richard Pyatt on 01284 702626. Treatt was advised its transaction by Carter Jonas.