Court goes under auctioneer's hammer
IPSWICH County Court building will be going under the hammer later this month.The freehold of the office block is to be auctioned at a guide price of £1.
IPSWICH County Court building will be going under the hammer later this month.
The freehold of the office block is to be auctioned at a guide price of £1.15m and the auction for the offices in Arcade Street will be held on March 21 in London and conducted by property advisers Jones Lang LaSalle.
The current freehold owners are The Local Authorities' Mutual Investment Trust and annual rent for the four-storey office block which includes parking for 11 vehicles is £136,071.
A spokeswoman for the Lord Chancellor's office, said: "The court service is housed there but it will not be affected by the sale of the freehold, or by the landlord changing."
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The Local Authorities' Mutual Investment Trust was established almost 30 years ago to provide property and equity investment exclusively for local authorities in the UK.
It is controlled by members and officers appointed by the Associations of Local Authorities in England, Wales, Scotland and Northern Ireland and by Trust Members representing the funds' unit-holders.
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A planning application for a new four-storey crown court in Russell Road, Ipswich is currently with town planners.
The Court Service has submitted the plans for the new legal centre which it is hoped will replace the current buildings used at Civic Drive since 1968.