While it was a beautiful old industrial building (just down the road from me)
https://www.ipswichstar.co.uk/polopoly_fs/1.4895684!/image/image.jpg_gen/derivatives/landscape_630/image.jpg
nobody could ever come up with a way of restoring it which would render it useful in the future, so it seemed destined to rot away. (The outer shell was made of wood).
There have been lots of arson attacks on site's outbuildings in the past, so it seemed only a matter of time before there was one on the main building. It would seem most likely to me that the arsonists were simply local youths, as the development potential of the site is actually severely limited by the restricted access to it. (Any planning proposals which would lead to a significant increase in traffic along that narrow road would probably be quickly rejected).
All the same, I'll miss being able to admire the building from the train whenever I go into town.