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Suffolk distribution park wins consent

Kenneth Booth May 1, 2020

The second phase of developer Jaynic’s Suffolk Park in Bury St Edmunds, Suffolk, has secured detailed planning consent from West Suffolk Council. The second phase of warehouse units at the 114-acre scheme totals 367,000 sq ft in four units of 37,000 sq ft, 80,000 sq ft, 100,000 sq ft and

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New logistics and warehouse construction keeps growing

Kenneth Booth November 22, 2019

The growing shift to online shopping by consumers is behind many of the recent well-publicised closures on the high street. But the trend is also bolstering tender opportunities in the industrial sector as new logistics and warehouse construction keeps growing to meet demand for distribution space. A recent trading update

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Latest Issue

BDC 319 : Aug 2024

jaynic

IRWIN MITCHELL ADVISES PROPERTY DEVELOPER JAYNIC ON LAND PROMOTION DEAL ON 279-ACRE SITE AT BARTON MILLS, SUFFOLK

Kenneth Booth May 6, 2022

The property division of national law firm Irwin Mitchell has advised land promoter and developer Jaynic on its a land promotion agreement on 279-acres adjacent to the A11 at Barton Mills, Suffolk, with the land offering significant potential for future commercial development. Located on the ‘Cambridge-Norwich A11 Tech Corridor’, this significant employment opportunity would provide a safe new entrance to Barton Mills via a new roundabout on the A11, and the opportunity to close the staggered A11-Newmarket Road crossroads at Herringswell Road and the A11 access from Newmarket Road at Tuddenham Road, both of which have poor highway safety records. Pedestrian/cycleway connectivity would be improved, and sustainable links created via new and existing routes. Andrew Anderson, Director at Jaynic responsible for the proposal, said: “We hope to achieve a local plan allocation in due course for a significant new business park along this strategic corridor, together with key highway safety improvements, both of which will provide local and district-wide benefits. “The site has not been allocated in the draft local plan but was identified in a recent evidence-based document as a potential opportunity to grow the district’s existing commercial sites,” added Anderson. Jaynic said it looks forward to working with all stakeholders including West Suffolk Council, the local community and businesses to promote the very real economic development and highway benefits that would come from such a development. The scheme would also deliver improvements to the ecological constraint zones within the site, meeting Biological Net Gain requirements and providing wider ecological benefits, with potential to help bring forward other developments in the area with significant ecological constraints. The Irwin Mitchell team was led by property partner Martyn Holland, assisted by senior associate Sarah Swann. Martyn Holland said, “This is a great development opportunity for our client for whom we have been advising for many years on numerous development and promotion deals. We believe this new project will provide significant economic benefits to the local area as well as improved traffic safety and we are excited to have been involved.” Jaynic is an established property company focusing on land promotion and business space development in the south and east of England. At Suffolk Park, Bury St Edmunds, it has developed 1.3m sq ft of warehouse and business space to date and has another 283,000 sq ft under construction. Jaynic is also appointed by Mid-Suffolk Council on its Gateway 14 site at Stowmarket to manage the development of up to 2.36m sq ft of business, logistics and innovation development. The company has a strong track record in the promotion of land through the planning process and, thereafter, the delivery of high quality, sustainable and efficient development.

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Suffolk distribution park wins consent

Kenneth Booth May 1, 2020

The second phase of developer Jaynic’s Suffolk Park in Bury St Edmunds, Suffolk, has secured detailed planning consent from West Suffolk Council. The second phase of warehouse units at the 114-acre scheme totals 367,000 sq ft in four units of 37,000 sq ft, 80,000 sq ft, 100,000 sq ft and 150,000 sq ft, respectively. Jaynic has outline consent for up to 2 million sq ft of business, distribution and industrial space at the scheme The first phase saw the development of speculative two warehouse units totalling 357,000 sq ft. The 147,000 sq ft building was successfully let to Unipart acting as the provider for the NHS Supply Chain last Summer, and it is in detailed negotiations with occupiers on its second 206,000 sq ft unit. Ben Oughton, Jaynic development director, said: “Despite the current health crisis there is strong evidence that there is still significant demand for well-located logistics warehouses. We felt that as the first phase is proving successful with Unipart taking the first unit and the current strong demand for the second unit the time was right to go ahead with a further second phase of speculative units.” Suffolk Park is located immediately adjacent to the A14 trunk road providing a fast transport link from the east coast ports through East Anglia and into the national motorway network. A recent report from Savills on big shed supply highlighted the lack of new speculative units in East Anglia.  At the time the report commented that: “there are no speculative units scheduled for delivery in 2019” and pointed out that the first phase of units at Suffolk Park units were the first speculative warehouses to be delivered in the region for over a decade. Encouraged by this Jaynic has gained planning consent for this second phase. Letting agents are Hazells Chartered Surveyors, Bidwells and Savills

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New logistics and warehouse construction keeps growing

Kenneth Booth November 22, 2019

The growing shift to online shopping by consumers is behind many of the recent well-publicised closures on the high street. But the trend is also bolstering tender opportunities in the industrial sector as new logistics and warehouse construction keeps growing to meet demand for distribution space. A recent trading update from Segro, one of the largest owners of logistics warehouses, suggests activity and tender opportunities in the sector remain brisk. The firm has seen a strong start to 2018 having secured a record £27 million of new rent in the first quarter and with occupational demand encouraging across all its markets, particularly driven by the growth of online retailing. Segro completed 146,500 sq m of new industrial construction projects in the first quarter. Moreover, the volume of new space either approved or with building projects under development across the group, stood at 1 million sq m at the end of March, up from 693, 900 sq m at the start of the year. Indeed, Glenigan’s Construction market analysis shows tenders are currently being invited on a £10 million Segro industrial building project in Newham, covering 4795 sqm and with work set to start in late 2018. £350 million development cap-ex Today, Segro’s development pipeline includes new pre-lets totalling 490,000 sq m, of which 270,000 sq m is to online retailers. At one key site, SEGRO Logistics Park East Midlands Gateway, the pre-lets include 122,000 sq m to a major online retailer and 60,000 sq m to a third-party logistics provider. Overall, Segro expects its development capital expenditure to exceed £350 million for 2018. Elsewhere, the go-ahead for a third runway at Heathrow Airport is likely to boost construction tender leads in the industrial sector further, as the growth of air cargo creates extra demand for warehouse space in the area. Segro, which owns significant portfolio around Heathrow, is well-placed to benefit. The potential for construction projects for the internet shopping sector has also been highlighted by the recent surge in the share price of Ocado, the pioneer in grocery deliveries, which is set to join the FTSE 100 this month. The outlook for the group which has a major facility at Andover and is set to open a new one at Erith in coming months, has brightened recently helped by a series of international partnerships. Tender opportunities Meanwhile, the outlook for tender opportunities across the industrial sector remains promising. Glenigan Construction market analysis shows that the value of underlying industrial construction starts rose by 19% last year and were up by 1% in the four months to April this year, compared to the period last year. The regional picture varies but activity looks particularly strong in key regions such as the East of England (where the value of starts is up 95% in January-April), London (up 24%) and the West Midlands (up 52%). A mark of confidence in the sector in the East of England is the start of construction work in recent weeks on two speculative logistics units covering 350,000 sq ft which are being developed by Jaynic at Suffolk Park, near Bury St Edmunds. Readie Construction is expected to complete the scheme by next November.

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