Ipswich: Vehicle workshop sold for £1.15m as confidence returns to commercial property market

Sovereign House in Ipswich.

Sovereign House in Ipswich. - Credit: Archant

A large vehicle repair workshop just off Sproughton Road in Ipswich has been sold to the Autosleepers Group Ltd of Martlesham.

Vanessa Penn of Penn Commercial, who acted on behalf of TrucksRUs who no longer needed the site, said that the sale of the property at £1.15million was a sign of a newly fast-moving commercial property market.

“The buyers completed within two weeks of receiving the contract, and there were bids from three interested parties. That’s a situation we haven’t seen for a number of years now.”

Sovereign House, which is on Farthing Road and close to the A14, offers the new owners approx 7,640 sq ft of ground and first floor accommodation, with a yard area of 0.81 acres.

It comprises a modern vehicle repair workshop and office accommodation with staff facilities. The surrounding yard, which is fully secured is block paved.