LaSalle Receives Planning Approval For £4m Ipswich Redevelopment
October 21, 2014 - LaSalle Investment Management, a leading global real estate investment manager, has been awarded planning approval for its £4m investment into the redevelopment of Tower Ramparts Shopping Centre, Ipswich.
The £4m investment will see new entrances based on the historic Thames barges that once sailed along the River Gipping, a major internal refurbishment and new toilet facilities, along with new shop fascias over the coming year. Following the news this year that River Island has expanded its trading space within the centre and the arrival of new tenants including Poundland and Iceland the management team is building on this momentum. Drawing on the town’s maritime heritage, Tower Ramparts Shopping Centre will also be renamed Sailmakers. The centre is located in the heart of Ipswich town centre next to the bus station providing access to Ipswich railway station within 10 minutes.The centre was originally constructed in 1984 and was refurbished in the 1990’s by the current architects involved with the new plans. It has since dated considerably, both internally and externally, and now requires extensive investment to return the centre to its former glory with the aim of attracting a wider variety of retailer. Gavin Ingram, Associate Director, at LaSalle Investment Management said: “Our team has been working on plans to transform Tower Ramparts into a thriving and vibrant retail and leisure destination for some time now with the aim of bringing new stores and jobs to the town. We are delighted with Ipswich Council’s decision to approve our application and hope to be on site in January 2015.”
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $58 billion as of Q4 2017 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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