Drum Property Group recently completed the purchase of debt from Canada Life, secured upon a large vacant department store in Ipswich town centre.
Drum now control the former BHS occupied store, adjacent to the Buttermarket Shopping Centre, and have submitted a planning application for their proposed redevelopment of the building.
32-42 Buttermarket has been unoccupied since BHS closed its doors in August 2016 resulting in a detrimental effect on the area as a retail destination.
The application details plans for a radical internal regeneration and refurbishment of the building to bring it in line with the current retail market, and to compliment the Buttermarket Shopping Centre, recently refurbished by Drum, and the high street frontage.
The proposal includes the sub-division of the vacant building into smaller units at ground floor level fronting onto Buttermarket and Arras Square, offering a mix of retail, food and drink uses, and introduces a gymnasium at the first floor level.
The proposals to regenerate the site will strengthen the attraction of the Ipswich town centre by bringing an unoccupied building back to life, and creating a lively and attractive destination for Arras Square.
The new scheme will compliment and enhance the recent regeneration works to the Buttermarket Shopping Centre Drum completed in partnership with Capital & Regional earlier this year.