Rainier buys Worcestershire office complex for resi scheme

Rainier Developments has bought an office complex in Church Lane, Redditch, Worcestershire, from GKN Investments. The transaction includes a 4.5-acre brownfield site and the three-storey Ipsley House – a near 70,000 sq ft former head office building. According to market sources, the complex is valued at around £25m.  Rainier will now start working on plans to redevelop the site to provide up to 80 homes, with proposals expected to be submitted to the council in the coming months.  Will Blacker, land director at Rainier, said: “Ipsley House offers the best of both worlds. It has the feel of a green, countryside location, yet it is 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.” Knight Frank advised the vendor.  Photo from Rainier Developments