English Partnerships has announced a £2.17 million support package towards the £9 million conversion of the Felaw Maltings buildings situated alongside Ipswich Wet Dock. The Agency has funded the purchase of adjoining land for the provision of on-site parking facilities In total, it is anticipated that the conversion will eventually provide an estimated 235 jobs. This news follows English Partnerships’ announcement last month about the publication of masterplan proposals by Llewelyn Davies for the redevelopment of the entire Ipswich Wet Dock area English Partnerships had supported preparation of the report to enable key regeneration sites and issues to be identifieds.
The major investors in the Maltings Project are pension fund clients of Jones Lang Wootton Fund Management who have acquired the building and will let them on completion of the refurbishment works to the various business tenants. who will be undertaking the Maltings conversion will start work within the next few weeks on these impressive listed buildings to create 10,250 square metres (110,330 ft²) of modern office space.
The conversion and re-use of Felaw Maltings will involve a range of partners Ipsenta, Suffolk University College, Suffolk Training and Enterprise Council, Suffolk Chamber of Commerce and Ipswich Port Ltd. Our professional property valuators offer an expert service for the Litigation Property Valuations.
The Maltings will be developed as the main business advice centre and one stop shop in the area including Business Link Services as well as the other main local business agencies – Ipsenta will run starter units and managed workshops Suffolk College is setting up a Management Development Centre The Wet Dock is a key regeneration area close to the centre of Ipswich. It is hoped that the remediation and re-use of the twin Maltings buildings currently dominating the western side of the Wet Dock since the 1880s will kick start a wide range of other redevelopment proposals to transform and regenerate the entire area.
Street and escalators to the three trading floors With this pre-letting we have created a substantial freehold investment in the City of London to be occupied by a first class covenant and which is a significant addition to MEPC’s office portfolio.