New Lettings at Buttermarket
28th April 2016
Drum Property Group and Capital & Regional have today announced a raft of new lettings at Buttermarket in Ipswich, as their plans to reposition the shopping centre gather pace.
Drum Property Group and Capital & Regional have agreed terms with four well-known restaurant brands.
Wagamama has agreed to occupy 3,250 sq ft on a 25-year lease and Byron Burger will take a 3,480 sq ft unit on a 25-year lease.
They will be joined by US restaurant and bar Coast to Coast and Prezzo, which will occupy 4,300 and 3,150 sq ft respectively, both on 25-year leases.
The joint owners have also announced that a 4,000 sq ft unit has been placed under offer with Cosy Club, and that they are in advanced negotiations for the remaining four dining units.
In November, Drum Property Group and Capital & Regional 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.
Graeme Bone Group Managing Director at Drum Property Group said:
“Securing brands and operators of this calibre is fundamental to our transformational plans for Buttermarket, and we expect the additional footfall generated by the leisure and dining elements to have a widespread economic benefit for Ipswich. We look forward to welcoming additional new tenants before completing the project this summer.”
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."
Drum Property Group and Capital & Regional also announce today that Ipswich Borough Council has approved their plans to remodel the St Stephen’s Lane entrance at the Buttermarket shopping centre in Ipswich. 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.