Property company acquires 70,000 sq ft office building with residential plans

A land and property development company has acquired a 70,000 sq ft office complex in Redditch.

Rainier Developments has agreed to purchase Ipsley House, a nearly 70,000 sq ft former head office building on Ipsley Church Lane.

The company, based in Henley-in-Arden, intends to redevelop the site into around 80 residential homes and is currently working on plans for the site before making a planning application in the coming months.

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.”

Charlie Steele at Knight Frank advised the vendor.