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Masterplanning Three Rivers Business Centre, Ipswich: A Case Study

Three Rivers Business Centre, Foxhall, Ipswich – managed successfully by Penn Commercial since 2014, on behalf of Peter Colby Commercials Limited. All the offices are now let, and there is a waiting list 

Peter Colby Commercials, a Norwich-based company of developers and investors, purchased Three Rivers Business Centre, on the outskirts of Ipswich, from the receivers and appointed Penn Commercial to handle the day-to-day property management in 2014.

Working closely with the client, Penn arranged the refurbishment of the offices to a high specification. There are 11 units at the 26,000 sq ft Business Centre, of which only one was let at the time of purchase.

Since Penn took over the lettings and management of Three Rivers, all units are fully let and there is a waiting list. Subsequently two new units, of 3,500 sq ft each, have been developed to meet demand, and planning permission is in place for the development of further units on the site.

Penn has proved that, with a proactive and ‘hands on’ approach, units can be let quickly, ensuring that the landlord does not have to endure void periods.

With Ipswich town centre close nearby, the Business Centre provides: staff and visitors’ parking; a secure, controlled site entrance; broadband, comfort-cooling and heating; and fitted disabled toilets and kitchen.

The site presents well and tenants enjoy working in this easily accessible location. Tenants in the Business Centre include a variety of local, regional and national companies.

Paul Keen, Property Management at Penn Commercial, said:

“Three Rivers Business Centre has gone from 0 employees in 2015 to 130 today, and the completion of the latest Blyth unit has boosted employment in the area by a further 20 or so staff.

“The construction has been undertaken with the environment in mind, including Passive Infra-Red (PIR) LED lighting activation for non-use areas, ACTIS HYBRID insulation throughout, and even the car parking is environmentally-friendly, featuring permeable, interlocking crates, allowing free drainage.”

Studio Flex, which opened at Three Rivers in August 2020, also offers boutique studio classes and a café, Café Flex, as an additional facility for the site.

Property Management & Professional Services

We have decades of experience of sales, lettings and management, and we can optimise returns on your investment and increase its value, whether industrial, retail, office or land.

In addition to our standard Property Management package, we are able to offer the following services:

 Rent and Service Charge collection

 Property inspections – new build and refurbishment

 Contract tendering

 Rent reviews and lease renewals

 Project management

 Facilities management and risk assessment

 Preparation of financial forecasts and Service Charge budgets

 Assignments and notices

 Schedules of Condition / Dilapidations

 Marketing Valuations – our Agency team is able to provide marketing appraisals across all sectors, with up-to-date market evidence and data

 Organisation of building insurance policies, including valuations and claims handling

 Compliance requirements, e.g. Energy Performance Certificates (EPCs)

 Sustainability – e.g. energy efficiency, renewable energy generation, water efficiency

 Lease reversion undertaken

Paul Keen, Senior Associate, has nearly 40 years’ experience in commercial and licensed property, together with property management, in Ipswich and the surrounding areas.

Paul previously managed properties in France for 12 years.

For all enquiries, please contact:

Penn Commercial, Suite C Orwell House, Fox’s Marina, The Strand, Wherstead, Ipswich, Suffolk IP2 8NJ

T: 01473 211933 / E: This email address is being protected from spambots. You need JavaScript enabled to view it. / W: