HCA funds to restart Ipswich tower scheme
The Homes and Communities Agency is to provide £15m to restart the development of the Winerack building on Ipswich’s waterfront.
The funding for the long-delayed project will be combined with £5m from New Anglia Local Enterprise Partnership and enable construction to start by the end of this year.
Ipswich Wharf Developments, led by local developers John Howard and Jeremy Scowsill, have been advised on the financing by Zenzic Partners.
The Homes and Communities Agency is to provide £15m to restart the development of the Winerack building on Ipswich’s waterfront.
The funding for the long-delayed project will be combined with £5m from New Anglia Local Enterprise Partnership and enable construction to start by the end of this year.
Ipswich Wharf Developments, led by local developers John Howard and Jeremy Scowsill, have been advised on the financing by Zenzic Partners.
Regatta Quay – known as the Winerack – has been half built since the financial crash of 2008. The scheme will create 149 residential units and 5,000 sq ft of commercial space.
Ipswich MP Ben Gummer said: “‘It has taken six years to get to this point from 2011, when I brought Nama, the Irish bank that owned the building, over from Dublin in an effort to get things moving. Including tense phone calls we have had over the past few weeks, this has taken an enormous amount of effort.
‘I am grateful to the HCA, the New Anglia LEP, Ipswich Borough Council and most of all to John Howard for making this project happen. We all now want to see the project delivered so that we can remove this blight from the town’s skyline.”
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