Multi-million pound sale and lease deal at Ransomes Europark, Ipswich

Aerial views, showing the site purchased by John Grose Group Ltd

Aerial views, showing the site purchased by John Grose Group Ltd - Credit: Archant

Fenn Wright and Reader Commercial have recently completed one of the most significant sales and back-to-back lettings on Ransomes Europark, Ipswich for several years.

Terms were agreed in October on behalf of Commercial Estates Group for the sale of the site of the former Ransomes offices and the ex-Cinram factory building on the junction of Central Avenue and Ransomes Way to John Grose Group Ltd.

The overall site extends to 12.5 acres and the factory provides a total of about 83,000 sq ft.

Contracts for the sale of the site were exchanged within only three weeks and the letting of the former factory, to the logistics company Marexport, was put in place shortly afterwards - completing just before Christmas.

Alistair Mitchell, Partner at Fenn Wright’s Ipswich office, said: “The sale of the site to John Grose Group reinforces the company’s ongoing commitment to the Ipswich area. There are very few warehouse buildings currently available and the immediate letting of the former factory building to Marexport demonstrates the strong level of pent up demand present in the current market.”

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Birchall Steel represented Marexport.

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