One of Suffolk's largest employers has placed its Ipswich headquarters on the market.

Independent retailer the East of England Co-op confirmed that Wherstead Park is up for sale. Depending on who the 25-acre site is sold to, the chain may become a tenant or move elsewhere.

The retailer employs more than 3,000 people across Suffolk, Norfolk, Essex and Cambridgeshire. It is owned by over 300,000 members – made up of its colleagues, customers and communities.

In the last year, the East of England Co-op expanded its services from Suffolk, Norfolk and Essex, into Cambridgeshire, opening five new branches with a further four confirmed for this year and several more in the pipeline.

Wherstead Park is one of more than 450 properties in the East of England Co-op's property portfolio in the region. It is being offered up for an undisclosed sum. 

Chief executive Doug Field said the site had played a "significant role" in the organisation's recent history.

“This is an exciting time for our co-op. 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.”

He added: “Wherstead Park has played a significant role in our recent history, but now is the right time to move forward and provide someone else with the opportunity to own this prestigious asset.

"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.”

The sale includes the park's Grade II listed mansion, office space and 17 acres of parkland overlooking the River Orwell, as well as a recently purchased piece of land, adding an additional 8 acres to the site, providing development opportunities for any potential new buyer.

“We’re open to exploring options for Wherstead Park, which may include relocating altogether, or selling to an investor and becoming a tenant ourselves," said Mr Field.

"We are committed to doing the right thing for our members, colleagues and tenants we’re excited by the opportunities that lie ahead.”

Alistair Mitchell at Fenn Wright, is the agent for the sale.