East of England Co-op has put its 25-acre headquarters site in Wherstead Park, Ipswich, up for sale, for an undisclosed sum.
The sale includes a Grade II listed mansion, office space, 17 acres of parkland overlooking the River Orwell, and a recently purshased additional eight acres to the site.
CEO Doug Field told the Ipswich Star the site has played a “significant role” in the society’s recent history, which has seen it expand operations into Cambridgeshire and grow its membership to more than 280,000. But the sale will allow the co-op to invest in its business.
“This is an exciting time for our co-op,” he added. “The changes we’re making are having a positive impact on our performance as a business. To support us on this journey, we need to ensure that every one of our assets is making a positive contribution and is aligned with the future needs of our business.
“We need to make the right decisions now, so that we can continue to build a stronger, more resilient co-op for our members, customers, colleagues and communities … Now is the right time to move forward and provide someone else with the opportunity to own this prestigious asset.”
He added: “The sale of Wherstead Park will allow us to invest in refurbishing and growing our business, providing new, modern facilities for our members, customers and clients in new locations throughout the East of England.”
Field said the co-op was exploring options for its own future at the site, “which may include relocating altogether, or selling to an investor and becoming a tenant ourselves.
“We are committed to doing the right thing for our members, colleagues and tenants we’re excited by the opportunities that lie ahead.”
