Drum Property Group and Capital & Regional have announced today that a new 12-screen Empire cinema will be at the heart of the redeveloped Buttermarket shopping centre in Ipswich.
The commitment from Empire comes as the owners unveil their vision for the £35 million redevelopment, which will also include a new 20,000 sq ft gym, to be operated by Pure Gym, and nine new restaurants to complement the centre’s retail offer.
Drum Property Group and Capital & Regional also announce today a raft of deals to retain the centre’s premier retail brands, with New Look this week opening a new flagship 14,000 sq ft unit fronting Buttermarket, and TK Maxx due to relocate to a more prominent ground floor unit at the centre.
Women’s fashion retailer Select have opened at the centre, occupying a 2500 sq ft unit, alongside Boots and health food brands Grape Tree and Holland & Barrett .
As part of the redevelopment, Drum Property Group and Capital & Regional have commenced an extensive refurbishment of the centre’s interior.
Privately owned developer and investor Drum Property Group, and Capital & Regional, the specialist shopping centre REIT, acquired Buttermarket for £9.2 million in March. In June, the joint venture secured planning consent from Ipswich Borough Council to redevelop the 250,000 sq ft centre.
Graeme Bone, Group Managing Director, Drum Property Group said: “This is a transformative scheme for Ipswich, and we expect the additional footfall generated by the leisure and dining elements to have a widespread economic benefit. We would like to thank Ipswich Borough Council for their ongoing co-operation and support.”
Hugh Scott-Barrett, CEO, Capital & Regional said: “We are very pleased to announce that Empire has committed to Buttermarket, and see this as a key milestone as we move to realise our vision for the centre. Town centres are changing and our ‘beyond retail’ strategy speaks to the need for a compelling leisure and food and beverage mix alongside a diverse retail offer. These deals represent significant progress towards this aim in Ipswich, and we look forward to welcoming our new occupiers to the town in the near future.”