Saturday 31st October 2020
Home Property & Construction Property & Construction News Council buys former BT office site in Ipswich for £4.1 million for affordable housing

Council buys former BT office site in Ipswich for £4.1 million for affordable housing

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An Ipswich Borough Council -owned company has bought a town centre site which was formerly a BT office block for £4.1m with plans to build nearly 80 new affordable flats.

The council’s property company, Ipswich Borough Assets (IBA), has acquired the site in Bibb Way in a sale agreed by Savills for its client Telereal Trillium.

Thomas Higgins of Savills Chelmsford said: "Given the scale of the scheme we approached national and regional developers and there was sizeable interest from both. There is ever growing demand for development land in and around Ipswich. Values are strong for sites that have capacity for more than 100 new homes, are well-located and which have good access to infrastructure and amenities such as the A12 corridor and rail connectivity to London.”

IBA will convert the five-storey office block into up to 79 flats and maisonettes including some for people with disabilities. IBA chair Colin Kreidewolf said a former data storage office and car park could also be redeveloped on the 4.3 acre site. Overall up to 136 homes could be built on the site.

Last Updated ( Tuesday, 28 January 2020 10:00 )