Chain giants sign up to £35m Ipswich restaurant project

Ipswich Buttermarket shopping centre

Four of the high street’s biggest restaurant names have put pen to paper on new sites at the Buttermarket shopping centre in Ipswich, which is being repositioned as a retail and leisure destination.

Wagamama, Byron Burger, Coast to Coast and Prezzo have all agreed to take space at the development, which has historically focused on shopping rather than F&B.

The repositioning is being led by Capital & Regional and Drum Property Group, joint owners of the site, which was acquired for £9m last year. They estimate the value of the project to be worth £35m.

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Wagamama will occupy 3,250 sq ft on a 25-year lease, while Byron Burger has agreed 3,480 sq ft for the same number of years.

American restaurant and bar Coast to Coast and Prezzo will occupy 4,300 and 3,150 sq ft respectively, also both on 25-year leases.

A 4,000 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 at Capital & Regional, said: “We are now well advanced in our 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.”

Plans to remodel the main entrance of the centre, which will allow increased natural light into the mall and create new external seating, have been approved.

Tags : Byron BurgerCapital & RegionalCoast to CoastCosy ClubDrum Property GroupIpswichPrezzoRestaurants
Andrew Seymour

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