Acting on behalf of CEG, Fenn Wright and Reader Commercial have completed a letting of a fully refurbished 10,000 sq. ft. office suite in Crown House, Ipswich. The new occupier, Derivco, is expanding its operation and has signed a 10-year agreement to occupy the east wing of the ground floor.
The Ipswich office of the international software development company has been located in Crown House since 2010, occupying the third and fourth floors, and over recent years has experienced dramatic growth. The expansion into the ground floor will see their office premises increase to over 23,000 sq. ft. in order to accommodate the 160 staff members.
The 95,000 sq. ft. Crown House is managed by CEG and, following the recent refurbishment of Derivco’s new suite, further investment projects at the five-storey building include the delivery of a new double height glazed reception entrance and café in summer 2017.
Rachel FitzGerald, Investment Manager at CEG commented: “We pride ourselves in being a proactive landlord who listens to our tenants’ requirements. To assist Derivco with its rapid growth, we are installing a dedicated lift connecting the new ground floor suite with the existing fourth floor offices.
“We believe that, over the past twenty years, Crown House has been the best multi-let office building in Ipswich and our aim is to ensure it continues to be a success.”
Matt David, CEO of Derivco said: “We have more than tripled in size since early 2015 and Crown House offers us the space we require to continue our expansion plans.
“The emergence of smartphones and tablets has been the driving force behind our expansion and we are currently recruiting for several vacancies within the company to ensure we continue to produce great software using the latest technology.”
Alistair Mitchell, commercial partner at Fenn Wright, commented: “The recent letting to Derivco represents the most significant office transaction to occur locally so far this year. CEG’s proactive management and investment programme in Crown House, and this latest announcement, demonstrates a significant step forward for the Ipswich property market. As a consequence of CEG working closely with its tenants and undertaking improvements to the property, Crown House continues to rank as one of the leading office properties in the area.”