A leading land and property development company has taken up a strategic development opportunity with the purchase of a huge office complex in Redditch.
Rainier Developments has unconditionally agreed to purchase Ipsley House – a near 70,000 sq ft former head office building in leafy Ipsley Church Lane – in a seven-figure deal.
The freehold acquisition of the three-storey office building, which sits within a 4.5-acres brownfield site, reinforces Rainier’s reputation as a market leader in property and land development.
The privately-owned Henley-in-Arden-based firm is now looking to redevelop the site to provide up to 80 residential homes.
Will Blacker, Land Director at Rainier Developments, said: “We’re delighted to seal the unconditional acquisition of what is a hugely attractive site that boasts so many opportunities from a residential development perspective.
“Ipsley House offers the best of both worlds. It has the feel of a green, countryside location, yet it’s positioned just outside the vibrant town centre of Redditch, and with easy access to the UK’s motorway network.
“This vacant office is a sign of the times post-covid and we hope to make better use of the site, which was last occupied over five years ago.
“We remain active in the market and are continuing to look for similar opportunities.”
Rainier are currently working on plans for the site before making a planning application in the coming months.
Charlie Steele at Knight Frank advised the vendor.