ALB Group has acquired Sailmakers mall in Ipswich, Suffolk, for an undisclosed amount. The shopping centre, located on Tavern Street, comprises 133,000ft² of retail space. The new owner intends to refurbish the space, in order to attract more new business to fill in vacant space. The current tenant mix includes River Island, Boots, and Poundland, is currently 75% occupied with the former 7,500ft² Topshop store remaining empty. ALB Group also stated that the centre will now have units available on a short-term low rent lease for those seeking space for pop-ups.
ALB’s MD Arran Bailey commented: “We are determined to rethink the way high streets are managed and offer these important community centres the chance of revival. Sailmakers represents a significant acquisition for ALB, and we can’t wait to support Ipswich along its road to recovery.”
Marketing of the available retail units has been awarded to FHP and Prime Retail. Tim Lloyd, partner at Prime Retail said: “Sailmakers has been in desperate need of new owners for some time. In view of what ALB Group has already achieved elsewhere in the UK, Sailmakers couldn’t be in better hands.”
