Penn Commercial has assisted in the successful freehold sale of the former Grimwades building in Ipswich's Westgate Street to Ipswich Borough Council.
This prominent town centre building - at 1-3 Westgate Street, on the corner of the Cornhill - has been vacant since the last tenant, Clinton Cards, vacated in 2012.
Ipswich Borough Council has acquired the building and said one of the two units within the building was already under offer and it was expected that the other unit would also soon be under offer.
Vanessa Penn, Managing Director of Penn Commercial, said:
"Acting on behalf of the vendor, Euro Property Investments Ltd, we are thrilled that the sale of 1-3 Westgate Street has now gone through to Ipswich Borough Council, and we are pleased to have helped to breathe new life into this important, historic cornerstone of Ipswich’s busy retail centre.
"We are looking forward to seeing the exciting new plans for this iconic town centre property as they develop."
Councillor Neil MacDonald, Leader of Ipswich Borough Council, commented:
“We want to see a vibrant town centre as much as our residents and businesses do, and this acquisition demonstrates our determination to achieve this.
“This is more than a property purchase, it’s a powerful step in regenerating our town centre and restoring pride in the heart of Ipswich.”
Photo caption: Penn Commercial has assisted in the successful freehold sale of the former Grimwades building in Ipswich's Westgate Street to Ipswich Borough Council. [CREDIT: Steve Martin / BBC]
ENDS
Notes to Editors:
Penn Commercial was established by Vanessa Penn in 2007 and celebrated its 15th anniversary in 2022. The agency provides a personal and dedicated service, with over 80 years’ combined property experience in East Anglia.
Reinforced by unrivalled local knowledge across all commercial property sectors, including retail, business space, logistics, warehousing, industrial, land, investment and development, Penn Commercial acts for a range of private and public sector clients.
The Penn team has been based at Fox’s Marina in Ipswich since 2009.
For any media enquiries, please contact:
Rachael Jackson, Penn Commercial
T: 01473 211933 / 07471 083167
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