Bury St Edmunds social enterprise is on the move

Suffolk Housing has agreed a deal to rent out space in its new HQ to a growing local business.

Foundation East, based in Hillside Road, is to move into Coppice House, off Skyliner Way in Bury St Edmunds.

It will allow the social enterprise, which provides loans to local businesses, to increase its efficiency, in turn freeing up more capital to lend to entrepreneurs.

It will also give Foundation East, which has seven staff, the opportunity to expand in the future.

Katy Ford, chief executive of Foundation East, said: “Relocating will enable us to grow further as a specialist in providing responsible finance to social enterprises and entrepreneurs, many of whom have faced their own challenges.

“As well as giving individuals the chance to make a difference, this also gives them the opportunity to develop their own business skills and contribute to the local economy.”

Foundation East’s move comes after Iceni Homes, which is a development company jointly owned by Suffolk Housing, also relocated to Coppice House from their previous premises in Kempson Way.

Sharing office space means that Suffolk Housing is able to keep its own costs down and so free up funds to provide services for its tenants.

Sue Philp, Suffolk Housing chief executive, said: “We are really pleased that Foundation East will be joining us at our new headquarters.”