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 is one of the world's leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.