Office building sold in multimillion-pound deal
An office building in Stratford-upon-Avon has been sold in a multimillion-pound deal.
The Crown Buildings off the Alcester Road and situated next to the Morrisons Supermarket, has been sold to Midlands-based property developer BPG.
The two-storey, 17,000 sq ft office building, which sits on 1.3 acres of land, was previously home to the local HMRC tax office but has more recently been occupied by Stratford College, Avon Support and the town’s Job Centre.
John Southall, of BPG, said: “We are delighted to have completed on the purchase of the Crown Buildings in Stratford-upon-Avon.
“Our plans for the site include retirement housing or care home development amongst other ideas.
“The purchase was funded from cash resources within the group and we continue to seek similar sites.”
Wareing & Company and Bampton Satchwell Bull (BSB) acted jointly on the sale on behalf of Mapeley Estates.
Jonathan Blood, of Wareing & Company, added: “Crown Buildings is just around the corner from where the first phase of Stratford’s Canal Quarter development is taking place, and just further down the road from the already successful Arden Quarter development – so I am sure BPG’s future plans will no doubt complement the regeneration of the area.”
Andrew Bull, of BSB, said: “Seeing investment at this level – despite the difficult economic backdrop we are operating in – is an encouraging sign for the future across various sectors, and hopefully deals of this nature can attract further inward investment into the town.”