Privately held investment firm Cain International, has agreed an extended development finance facility of £19.25 million with Jaynic Property Group.
The investment company originally lent £13.8 million in February 2022 for the development of SP160, a 160,000ft2 warehouse at Jaynic’s Suffolk Park logistics scheme to the east of Bury St Edmunds.
It has since agreed to extend the loan by a further £5.45 million, allowing the development of an additional 47,000ft2 unit, SP47, at the same location.
“An extension to the existing loan facility that will enable Jaynic to develop the warehouse space that East Anglia has a growing requirement for. Logistics has been an area of growing importance to Cain”, said Nikos Yerolemou-Ennsgraber, Director at Cain International.
The new developments form the third phase of Suffolk Park, a key commercial location in the region with exceptional transport connections via the A14 corridor, linking it to Felixstowe, the UK’s largest container port, and to the Midlands and London via the M11, M25 and M1.