Empty former Debenhams store bought by council

The former Debenhams store in Ipswich has been bought by the borough council for an undisclosed amount.

It was originally sold in April 2021 to the Unex Group, a Newmarket-based property investment firm, for more than £3m, but has been vacant ever since.

The retail space is a large and prominent one, on the town's Cornhill.

Neil McDonald, leader at the Labour-run council, said: "By bringing the site into council ownership, we can remove a long-standing blight, unlock future redevelopment and create an opportunity for something much better for Ipswich."

The council says the building, known as Waterloo House, is not financially viable to let to tenants and will need to be replaced.

A spokesperson said the local authority was considering "a developer-led design competition to identify a partner capable of designing, funding and delivering a viable mixed-use redevelopment of the site".

They believe this would reduce the "risk of selecting an attractive but undeliverable scheme" and instead support a long-term ambition for a modern mixed-use building.

Waterloo House was built in 1975 and Debenhams' tenancy agreement started on 8 August 1977, according to the sale documents from 2021.

The council is using a portion of the £25m it was awarded from the government's Towns Fund - now known as the Local Regeneration Fund - in 2021.

Other prominent buildings in the town, including Grimwades which sits opposite the former Debenhams, have been purchased with cash from the fund.

Ipswich Labour MP Jack Abbott said: "This empty building has left a scar on our high street for half a decade and I know how desperately local residents want it to be given a new lease of life.

"I am clear that the aim cannot simply be to replace an empty building - we must create a vibrant, sustainable and attractive destination in the heart of our town that supports the future growth and prosperity of Ipswich."

Reform UK councillor Tony Gould, leader of the opposition at the council, described the decision as "a staggeringly reckless use of public money".

He said the cash should instead be used for "productive, community-focused projects that yield guaranteed benefits for our town centre".

"Residents do not want the heart of our town turned into a long-term wasteland on a vague hope that an investor might rescue it," he added.

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