Capital & Regional and Drum Property Group have announced a raft of new lettings at Buttermarket in Ipswich, as their plans to reposition the shopping centre gather pace.
The joint-owners have agreed terms with four food and beverage brands, as they advance a £35 million redevelopment of the centre acquired for £9.2 million in 2015.
The dining offer at the redeveloped centre will include Wagamama, which will occupy 3250 sq ft on a 25 year lease, and Byron Burger, which has agreed terms on a 25 year lease for 3480 sq ft unit.
They will be joined by American restaurant and bar Coast to Coast and Prezzo, which will occupy 4300 and 3150 sq ft respectively, both on 25 year leases.
The joint owners also announce that a 4000 sq ft unit has been placed under offer with Cosy Club, and they are in advanced negotiations for the remaining four dining units.
In November Capital & Regional and Drum Property Group announced that Empire will operate a 12 screen cinema complex and Pure Gym will open a new facility at Buttermarket. Construction is underway with both units due to be handed over for fit-out in June..
Ken Ford, Executive Director, Capital & Regional said: “We are now well advanced in or plans to expand, modernise and reposition Buttermarket as a retail and leisure destination in the heart of Ipswich. A compelling family dining offer is integral to this, and we are very pleased with the mix of national quality brands that have committed so far, and the strength of interest in the remaining units. We remain on track to be 100 per cent let by Practical Completion in July, and would like to thank Ipswich Borough Council for their ongoing support.”
Capital & Regional and Drum Property Group also announce that Ipswich Borough Council has approved their plans to remodel the St Stephen’s Lane entrance at the centre. The reconfigured statement entrance will create a more meaningful link between the centre and Arras Square, allow increased natural light into the mall and create new external seating.
