Treatt buys new 200,000 sq ft Suffolk HQ

Fragrance and flavour ingredient supplier Treatt has agreed a deal for a new 200,000 sq ft headquarters in Bury St Edmunds in Suffolk in what will be one of East Anglia’s largest occupational deals. The company has bought a 10-acre site within the 35-acre Suffolk Park Enterprise Zone from Taylor Wimpey for the project, which will be developed by Berkshire firm Jaynic. Treatt is understood to have paid around £4m for the land. London Stock Exchange-listed Treatt has been based in Bury St Edmunds since 1971. It plans to consolidate staff from a number of locations at the new headquarters. The scheme will provide offices, logistics and research and development space. Companies based within the enterprise zone will be eligible for business rates relief of up to £55,000 pa against the rates payable for five years, amounting to a total saving of £275,000. The scheme will be a central part of a wider 2m sq ft business park for which Jaynic and landowner Taylor Wimpey have now submitted a planning application. A decision is expected on 17 March. The 114-acre park will include offices, a 750,000 sq ft warehouse, research and development hubs and innovation centres with an estimated end value of £200m. Properties from 10,000 sq ft upwards will be available to let or buy. The initial development work will be funded using the proceeds of the sale to Treatt. Nic Rumsey, managing director at Jaynic, said: “We want a mixed-use business park with a number of office-orientated occupiers and are already in talks with a number of parties. “Nationally, there has been a slight shift of logistics to the east, but there are not many sites capable of providing large buildings, though there is strong demand.” Suffolk Park neighbours Taylor Wimpey’s 500-home Moreton Hall scheme. Carter Jonas advised Treatt. Hazells Chartered Surveyors is the letting agent at Suffolk Park. • To send feedback, e-mail shekha.vyas@estatesgazette.com or tweet @ShekhaV or @estatesgazette