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

06:00 07 May 2014

Sovereign House in Ipswich.

Sovereign House in Ipswich.

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.

1 comment

  • No. A two week period is a very fast turnaround in property, but how long was this property actually on the market for? I don't know, Google it.. I did... Just short of 6 months (earliest reference I could find) which is still pretty good but not amazing. Still listed as 'Under Offer' online - I wonder if Penn Commercial will remove this advert as all good agents should or leave it up online for another 6 months... I know Penn, Fenn Wright etc. are a little guilty of doing this - especially the "free advertising" property boards exempt from needing planning consent. I clocked one of FWs properties still being advertised a year on at an entrance to a busy industrial estate. Its legal and paid up for longer... why not? Well its hardly ethical.

    Report this comment

    Ipswich Entrepreneur

    Wednesday, May 7, 2014

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