Developer Jaynic has pre-sold a 42-acre plot in Suffolk to Belgian logistics firm Weerts Group, which will host a 870,000 sq ft warehouse.
Blackstone is backing Weerts’ purchase, which has been carried out on behalf of an unnamed client seeking greater expansion in the UK.
The 870,000 sq ft logistics facility, at Suffolk Park in Bury St Edmunds, will be developed in two phases. Its 476,000 sq ft first phase is expected to complete in the summer next year.
It will mark Weerts’ first warehouse location in the UK.
A detailed planning application has been submitted to West Suffolk Council.
Ben Oughton, development director at Jaynic, said: “This is a very significant deal for Suffolk Park, Suffolk and East Anglia.
“This transaction with Weerts Group comes swiftly on the heels of the sale of our SP206 unit to Chinese consumer goods importer M H Star and re-affirms the rapidly increasing popularity of the A14 as a logistics location.
“In under six months these two transactions amount to 1.1m sq ft of warehousing and the creation of around 700 jobs for the local economy.”
Pascal Weerts, chief executive of Weerts Group, said: “Being a family-owned structure, our mission is to build engines for value creation.
“Our independence and entrepreneurial spirit allow us quickly to spot and seize opportunities.”
Other tenants also include the NHS’s regional distribution centre and ingredients manufacturer Treatt.
The 114-acre Suffolk Park has outline planning consent for 2m sq ft of business, distribution, and industrial space.
Weerts Group is headquartered in Liège and has operations in Belgium, Luxembourg, Germany, Hungary and Romania.
Hazells Chartered Surveyors, Bidwells and Savills London’s logistics team are the agents for Suffolk Park.
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