Reader Commercial are pleased to announce they have recently completed one of the most significant sales of strategic land at Ransomes Europark Ipswich for several years.
The sale was agreed in October on behalf of clients Commercial Estates Group of the site and the former offices of Ransomes and the ex-Cinram factory building on the junction of Central Avenue, Ransomes Way.
The Asset was sold to John Grose Group Limited and extended to approximately 12.5 acres with the factory being a total of circa. 83,000 sq ft.
The purchase was concluded within 6 weeks of the agreement and this acquisition will compliment John Grose’s existing extensive land holding at the park.
Following the sale Reader Commercial and their joint agents Fenn Wright subsequently agreed to let the former Cinram building to Marexport which completed just before Christmas. Martin Reader of Reader Commercial said “We were delighted to be involved with such a prime parcel of land. The immediate area of Ransomes Europark/Futura has undergone extensive development over recent years and this sale reinforces the confidence within the market and in particular demonstrates Ipswich is moving in the right direction. It is clear commercial land is commanding a premium in the town at present and with the shortage of available stock in the warehouse/industrial sector this will surely remain until future land is unlocked.”
Martin went on to say “the commercial property market is extremely short of new stock and Reader Commercial welcomes any landlord, existing occupier seeking to expand or relocate into the area, contact our Ipswich office on 01473 289600 or visit our website readercommercial.com”.