Showpiece building to get new owner

TXU'S partially-built multi-million pound offices in Ipswich is today set to get new owners.Suffolk County Council has been given the go-ahead to negotiate the purchase of the new office block in Russell Road, Ipswich.

TXU'S partially-built multi-million pound offices in Ipswich is today set to get a new owner.

Suffolk County Council officers were today given the go-ahead to negotiate the purchase of the building with the administrators of TXU Europe.

County councillors voted unanimously for the negotiations to proceed – and gave permission for a final deal to be agreed without returning to council committees for approval.

The council is expected to have to pay about £18 million for the building – which was valued by TXU at £35 million.

If the council is successful in its negotiations, these are expected to be completed within a few weeks because time is critical.

The building is about three-quarters complete structurally, but it is not weather-proof and the external structure needs to be completed soon to protect sensitive equipment which has already been installed.

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For the full story, see Friday's Evening Star.

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