A chartered accountancy group is ramping up its Suffolk presence.

LB Group has snapped up a long lease on a site in Ipswich, having moved there in December 2021.

It relocated its 34-strong workforce from its former home in Great Blakenham to 80 Compair Crescent and said the purchase was in response to its growing client base in the region - and its growing team.

The firm - which also has offices in Colchester, Chelmsford and London and specialises in professional accounting, audit and tax advice - has invested in an 8,000sq ft ground floor office suite which is part of a five storey building in Compair Crescent with residential homes above.

Agents Penn Commercial acted on behalf of building owners Reads Property Developments.

Reads managing director Joe Read said: “We made the decision to sell this investment, which we have held for over 12 years, to support us in the development of other investments we hold in Ipswich, including a new warehouse facility on two acres of land at Anglia Parkway, which will be ready for occupation in 2023. 

“The sale secures LB Group Chartered Accountants’ future in Ipswich, and we wish them every continued success.”

LB Group director Chris Annis said: “This purchase is a significant step in the continued success of LB Group Chartered Accountants and represents our commitment to our growing client base in the region, and to our growing team.

"The location, surrounding facilities and accessibility will enable us to continue to grow, and to continue to offer top-level compliance and advisory services to existing and future clients that we can help."

Robin Cousins, associate at Penn Commercial, said the sale was "a really positive display of confidence in the office market".