£13.8 million loan for new warehouse at Suffolk Park in Bury St Edmunds

A developer has secured a £13.8 million loan for a new warehouse at a business park in Bury St Edmunds.

Jaynic will use the money from Fortwell Capital to develop a new 160,000 sq ft unit at Suffolk Park.

Hermes Parcelnet Ltd, Weerts Group, MH Star UK Ltd, Unipart Logistics, Treatt, Sealey, The East of England Ambulance Trust and Skechers have already taken space at the business park.

Nikos Yerolemou-Ennsgraber, director at Fortwell Capital, said: “We anticipate the demand for larger industrial units will remain strong as more businesses seek to strengthen their distribution facilities in both domestic and international markets."

Gary McCausland, a director of Jaynic, added: “We are delighted to be working with Fortwell Capital on this next phase of our development at Suffolk Park.

"Once these buildings are completed there will be just 12.5 acres remaining for development at the park.

"The speed with which space has been taken has surpassed all our expectations.

"We had expected the project to be built out over 10 years and there is every chance that this could occur in just six.

"This reflects the acute shortage of space with demand continuing to grow and companies taking on additional space to ‘future proof’ their needs.

"It also demonstrates the growing reputation of Suffolk Park and the A14 corridor as a credible institutional investment location."