Encouraging view from top of Winerack as work develops on building
- Credit: Angela Sharpe Photography
Developers met dignitaries atop Ipswich’s until-recently abandoned ‘Winerack’ building to celebrate the unblocking of a stalled regeneration project.
In March, work began to complete the Waterfront building, left unfinished when City Living went into administration in 2010.
In recent days, a crane moved in to lift scaffolding into place
A hard-hatted group gathered to observe progress on the project, which will bring 149 homes, 5,000 square feet of commercial space and about 56 jobs to the Regatta Quay area by the end of 2020.
The £20million scheme is being completed by property developer John Howard and contractors RG Carter Construction, with £15m from housing and regeneration agency Homes England and £5m from the New Anglia Local Enterprise Partnership (LEP).
Mr Howard, of Ipswich Wharf Developments, said: “At long last, we’re delighted to see the construction of the Winerack now fully under way.
“The Ipswich Marina is the crown jewel of Ipswich, and completing this building will transform the skyline of the harbour and provide another 150 homes in this stunning location.”
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The Homes England deal to bring forward development has been shortlisted in the RESI Awards, recognising residential property developers, investors, landlords, house builders, housing associations and local authorities.
Ipswich MP Sandy Martin and borough council leader David Ellesmere joined representatives of Homes England, New Anglia LEP, Ipswich Vision, RG Carter, Ipswich Wharf Developments and Zenzic Partners, which advised developers on financing the scheme, for a tour of the site.
Nick Walkley, chief executive for Homes England, said: “The Winerack is a really important example of how government is prepared to intervene to unblock stalled developments and help people and businesses to thrive.”
Chris Starkie, New Anglia LEP chief executive, said: “This project marks a step forward in the transformation of this part of Ipswich, and it will help to unlock new investment and development opportunities.”
Nadine Buckland, of Zenzic Partners, said the Winerack was a great transaction to be involved with, adding: “It was a very innovative financing structure with Homes England and the LEP, and it’s great to see it translate into delivery of what will be a fantastic scheme.”