Former Suffolk police station fetches more than £1m
- Credit: Eddisons
A former town police station and magistrates' court has been snapped up by a developer for more than £1m.
The freehold sale deal for the Newmarket property finally went through in mid-December after "extensive negotiations which were lengthened by the Covid-19 pandemic and phases of business lockdown", said agents Eddisons incorporating Barker Storey Matthews.
It was acting on behalf of the office of the Police and Crime Commissioner (OPCC) for Suffolk and Suffolk County Council who decided to sell the 0.31acre site spanning Vicarage Road and Lisburn Road.
It has outline planning permission to be turned into homes and was bought by a property development company called Newmarket Holdings Limited.
Eddisons’ Steven Mudd said: “Notwithstanding the problems in the wider economy caused by the pandemic, the completion of the sale demonstrates the ongoing appeal of freehold property investment.
“Plus, also, the enduring attraction of the Eastern region for such residential development opportunities.”