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25 April, 2018 - 01:01 By Kate Sweeney

Site sales exceed guide to fetch almost £3m

Substantial interest in two sites being sold by Suffolk County Council resulted in sales of almost £3 million – above guide price in each instance. The sites were sold for the council by Barker Storey Matthews.

Camps Road, Haverhill and Sidegate Lane in Ipswich were owned and operated by the local authority for residential care home use and their divestment has seen supported housing uses retained by the purchasers.

Camps Road, Haverhill is a 1.97 acre site which was marketed at £1.45m and informal tenders were invited. Barker Storey Matthews confirms that there were a number of bidders and that the site exceeded its asking price. 
The site is to be redeveloped for retirement accommodation by specialist developer, Churchill Retirement Living with an element of the site allocated for private residential housing.

The conclusion of the sale of the former residential care home on Sidegate Lane in Ipswich sees the premises on the 0.76 acre site being used as emergency housing by Ipswich Borough Council.

Sidegate Lane, Ipswich was marketed with a guide price of £1.5m which, Barker Storey Matthews confirms, was exceeded after offers from seven bidders.

The sale of both sites was overseen by Steven Mudd of Barker Storey Matthews’ office in Bury St Edmunds.  He said: “We have worked under instruction for a number of years in the sale of properties suitable for use, or continuity of use, in the supported housing or residential care home sectors.

“These have mainly been instructions as part of local authority planned disposal programmes as housing and social care migrates from the public remit to that of private providers.”

• PHOTOGRAPH SHOWS:  Sidegate Lane, Ipswich

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