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Ipswich property lettings lift confidence

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Hopes of a recovery in the Ipswich commercial property market have been raised by a series of four office lettings in the town. Savills has recently let office properties at Springvale Court, Felaw Street Maltings, Sir Thomas Slade Court and 40 Princes Street (photo, right). Combined, the deals provide 20,427 sq ft of office space at a total annual rent of £190,760 per annum.

Savills director Chris Moody said: “This latest activity in the Ipswich office market is extremely positive and shows encouraging signs after the recent subdued nature of the lettings market.  The deals are essentially between local companies and demonstrate the growing confidence amongst the local business community.”

On behalf of private vendor, Savills has let Springvale Court to CFBT Education Trust on a new five-year lease at £39,500 per annum.

At Felaw Street Maltings, Savills advised LaSalle Investment Management on letting the last remaining office suite to Energetix Group plc on a new 10-year lease at an annual rent of £48,000.

Sir Thomas Slade Court was let to C J D Leisure Limited for £31,500 per annum on a 10-year lease on behalf of a private vendor.

Finally, three floors at 40 Princes Street have been let by Savills on behalf of RCP Investments Ltd – part of Targetfollow Group - to Shared Band Ltd for £45,630 per annum on a new 15-year lease.

Last Updated ( Wednesday, 05 September 2012 12:50 )