Vital space in town centre available as commuter towns grow due to COVID-19.

Avison Young has been appointed to sell the Debenhams department store in the heart of Ipswich town centre. The store, fronting the town’s Market Square, is let to Debenhams Retail plc on a turnover lease with flexible landlord breaks from 31 January 2022.

Situated in Ipswich, the historic, cultural and economic centre of Suffolk, the store totals 182,008 sq ft arranged over basement, ground, and two upper floors. The site offers substantial redevelopment potential to a variety of alternative uses and offers a unique opportunity to capitalise on the shift in demand for out-of-London living.

The town benefits from frequent train services from Ipswich into London Liverpool Street at a journey time of only 1hr 15 minutes underlining the appeal of the town for many moving out of London.

Mark Frampton, Principal, Investment comments, “Recent events have reduced the daily reliance on London and accelerated interest in towns such as Ipswich, where greater housing affordability can provide a higher standard of living, which coincides with the rise of home-working and increased emphasis on work life balance and wellbeing.

This shift in work and living practices is resulting in a greater number of people spending more time locally increasing footfall and local spend, driving local economies and occupational demand.”

The building’s versatility is aided by its unique town centre location, as a hub for economic, cultural and leisure activities. Avison Young’s planning department have provided an appraisal which concludes that local policy is supportive of redevelopment, potential increased massing and the introduction of a variety of uses.

Offers are sought in excess of £5,500,000 (Five Million Five Hundred Thousand Pounds) for the Freehold Interest in the property subject to contract and exclusive of VAT.