Property managers chosen to run prestigious Suffolk Freeport East site
- Credit: Jaynic
A company has been selected to run a new 2.36m sq ft business and logistics park off the the A14 at Stowmarket.
Property management firm Workman LLP has been named as property and estate managers of Gateway 14, a 2.36m sq ft business, logistics and innovation development.
The national firm, which has an office in Cambridge, will be responsible for the day-to-day running of the site, which is set to become part of Freeport East - meaning firms based there will enjoy a number of tax and other breaks and different custom rules.
Gateway 14 Ltd is wholly owned by Mid Suffolk District Council and the site got the planning green light in October 2021. The council is working with developer Jaynic to deliver the scheme.
Freeport East - one of eight new Freeports in England to benefit from different tax and custom rules after gaining the status in December 2021 - hopes to generate a Gross Value Added (GVA) of £5.5bn and create up to 13,500 jobs for the area over 10 years.
New facilities will be available on a bespoke and speculative basis at the mixed-use park, which has potential to build E(g), B2 and B8 units.
Jaynic development director Ben Oughton said: “Workman is a natural fit for Gateway 14 having a huge reputation for managing developments of substantial size. There is already significant interest in the development with the freeport benefits and its location adjacent to the A14 being of great appeal to potential occupiers and it will require extremely active management for which Workman is known throughout the UK and beyond.”
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Workman partner Mark Smith said they were "delighted" and "proud" to have been appointed to the scheme.
“To manage what will be a hugely significant Business, Logistics and Innovation Park in the East is an exciting opportunity for Workman.”
Gateway 14 chairman Sir Christopher Haworth said: “Gateway 14 is a flagship development for the region with opportunities for a range of national and international businesses, boosted by the Freeport East designation. Our ambition has always been to deliver to high quality space for businesses, and in turn, create employment opportunities for Stowmarket and the surrounding region.”