Suffolk & Essex

Suffolk & Essex is one of our smaller markets, and while the region sits proximately to London and the M25, it also lacks a critical mass of warehouse stock and suffers from relatively poor motorway infrastructure. The region is however home to the port of Felixstowe, one of the largest container ports in the UK. Whilst the region benefits from this concentration of freight activity, some of the land surrounding the port is protected for port expansion. Occupier activity has historically been limited by restricted supply, but new developments such as Suffolk Park and Orwell Logistics Park have recently opened-up land to accommodate large pre-lets.

The Weerts Group’s decision to pre-let 870,000 sq ft at Suffolk Park significantly changed the demand profile of this region and has the potential to draw in other occupiers keen for more cost-effective space with access to London. Manufacturers too were interested in space in 2020, with GCB Cocoa buying the former Avent facility in Suffolk for use as a new production facility. Small-scale speculative development at Cranes Business Centre in Ipswich added to supply and ticked-up the availability rate at the end of 2020, but at 5.2%, it remains below the national average. The outlook for rental growth in this region is limited by the lack of stock, but new developments such as Orwell Logistics Park have planning permission to offer occupiers more choice.