Newest reincarnation for historic waterfront building
Gipping House backs onto Dock Street on the south side of the Orwell, overlooking the river and St Peter’s Dock close to Stoke Bridge. It has a guide price of £375,000 through our Ipswich office.
Across the centuries the building, which dates from the late 1700s, has had varied uses. Originally a warehouse, it became a barracks for the infantry in 1803 at the time of the Napoleonic Wars, before being converted to a maltings in 1849. More recently it was a disaster recovery facility for London Transport and offices for a software company.
Currently offices, permission and listed building consent has been granted to allow the conversion of the upper floors to create four flats, the top one having the benefit of including the observation room at the top of the building giving a bird’s eye view over the surrounding area. There will also be four parking spaces and a bike store.
Two ground floor offices will offer 1,033 sq ft and 775 sq ft of space. On the first floor, two flats (969 sq ft and 850 sq ft) will each have two bedrooms, while on the second floor will be an 850 sq ft one bedroom flat , and a second one bedroomed apartment with additional accommodation on the third storey observation floor.
Alistair Mitchell of our Ipswich office says the building has retained some unusual features from its original uses and its location makes it ideal for both commercial and residential purposes.
“This property provides an interesting development and investment opportunity. Services are already available to all floors and the configuration of the building should allow for a relatively straightforward conversion”.
“Once completed, the development will provide an investor with scope to generate a very worthwhile return from a mixed use scheme. Although the property is currently available on a long leasehold basis, there should be scope to acquire the freehold through enfranchisement”.
The town centre, university and railway station are all within walking distance, with many new and well-established restaurants and shops to choose from nearby.
For further details of the property call Fenn Wright on 01473 232701.