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Property Recycling

  • BY: Andrew Hore |
  • POSTED: 20/08/2007 |

Property Recycling says that IKEA won’t take up its option on the company’s Stanton site. 

The Scandinavian retailer says it doesn’t need the site, which is near Bury St Edmonds, any more. Planning permission for a 114,900 square metre distribution centre was granted last year. Property Recycling’s management says that the site is worth more than when the option price was set in 2001. They may even look at possible alternative uses for the Stanton site.

The site is in the books for £1m plus - it hasn‘t been revalued since the planning permission.

There looks to be a good chance that the Stanton site won’t contribute to Property Recycling’s 2007 figures.

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