Penn Commercial has sold a freehold 3.9 acre site, previously owned and occupied by British Oxygen Company (BOC), on Ipswich’s Hadleigh Road Industrial Estate to a locally based company.
The new owners are commercial property investment group, Crawshaw Bailey. They intend to let the site, which includes 38,984 sq ft of industrial and office accommodation, to as many as six different occupiers. They believe this has the potential to create up to 100 new jobs.
The site, which has been unoccupied for more than a year, comprises a variety of buildings including warehouses, offices and industrial units. There is also an area of hard standing that would lend itself to further development.
There is substantial car parking to service the buildings and two different access points.
The buyers are based in Kersey Tye in Suffolk, and are reputed to have a portfolio of around £35million of commercial property.
Vanessa Penn of Penn Commercial said: “This was always going to be a good investment for the right buyer. This is a site with a lot of potential in an area that is very popular with tenants. Nearby occupiers include a number of national trade counters, distribution and parcel companies.
“The sale of this site is a real vote of faith from the vendors in our vibrant local economy.”
BOC retains a retail unit on Arkwright Road in Ipswich.