Jaynic and PGIM Real Estate are developing two logistics units totalling 350,000 sq ft at Suffolk Park, Bury St Edmunds, Suffolk.
The gross development value is £35 million.
The development of the two units,147,000 sq ft and 206,000 sq ft respectively, will commence at the beginning of May. The development will have 12.5 m clear height, 50m deep service yards, level access and dock loading together with ancillary offices.
“We are delighted to have partnered with PGIM Real Estate for this project,” said Ben Oughton, development director with Jaynic. These units will be the only speculative development in this area currently being undertaken.
“It will provide much needed stock that can be delivered before the end of 2018 setting the scheme apart from other development sites in the vicinity, where lead in and occupation lags by anywhere between 12 – 24 months,” adds Oughton.
Agents are Global Real Estate advisors Savills and local agent Hazells.