Turnstone Estates and RevCap have submitted a planning application to Ipswich council for a £50m retail-led scheme on the site of the former Civic Centre,
The 120,000 sq ft scheme will also include restaurants, cafes, flats, an amphitheatre and 500 car parking spaces.
The proposal also incorporates enhanced facilities for the adjacent New Wolsey Theatre.
Nick Scott, director, Turnstone Estates, said: “This retail-led demand responds to the pent-up demand we know exists in the town, especially to the lack of modern retailing space within the town centre.”
“The combination of retail and residential incorporated within the scheme, together with the modern yet sensitive design, is well-suited to the prominent town centre location which will have enhanced links to the prime shopping pitch.”
Subject to planning approval, construction of the scheme will begin in summer 2009 with completion scheduled for spring 2011
CBRE and Savills are letting agents on the scheme.
