The purchase of Waterloo House marks a major milestone in the Council’s long-term regeneration strategy. Vacant since the closure of Debenhams in 2021, the prominent building occupies a strategic position at the heart of the town centre and has become one of Ipswich’s most visible empty properties.
By bringing the building into Council ownership, Ipswich Borough Council aims to remove a long-standing blight on the town centre, unlock future redevelopment opportunities and create a catalyst for wider investment and economic growth.
Councillor Neil MacDonald, Leader of Ipswich Borough Council, said:
“Ipswich is entering an exciting new chapter. The acquisition of Waterloo House demonstrates our determination to take direct action to shape the future of our town centre, while our ongoing investment in public spaces and infrastructure is creating the conditions for long-term growth and prosperity.
“Waterloo House is one of the most important buildings in Ipswich town centre and, for too long, it has stood empty in a location that should be full of life. By taking ownership, we can move forward with plans to bring this key site back into productive use and ensure it plays a central role in Ipswich’s future.
“Alongside this, projects such as Arras Square and Lloyds Avenue show we are not standing still. We are creating a more attractive, accessible and welcoming town centre that encourages people to spend more time here, supports local businesses and reinforces confidence in Ipswich as a place to invest.”
The Council has concluded that restoring Waterloo House to its former use would require substantial investment and would not be financially viable. Instead, the preferred approach is a developer-led design competition to identify a partner capable of designing, funding and delivering a modern mixed-use redevelopment that supports economic growth, increases town centre activity and improves connectivity across Ipswich.
The acquisition has been funded through the Government’s Local Regeneration Fund (formerly the Towns Fund).
Jack Abbott MP, Member of Parliament for Ipswich, said:
“The acquisition of Waterloo House is another important step in the wider regeneration and investment programme of Ipswich town centre. This building occupies a pivotal location and its redevelopment provides a significant opportunity to create a vibrant, sustainable and attractive destination at the heart of our town.
“Alongside improvements already being delivered across the town centre, this investment demonstrates a clear commitment to supporting Ipswich’s future growth and prosperity.”
A bigger vision for Ipswich starts to take shape
The Waterloo House acquisition forms part of a broader programme of regeneration already underway across Ipswich town centre.
Work is progressing well on the transformation of Arras Square (pictured above), where construction began in June. The project will deliver a more welcoming and accessible public space featuring new paving, seating, trees, lighting, CCTV and improved disabled access. A new amphitheatre and enhanced pedestrian areas will help create a vibrant destination for residents and visitors, while celebrating Ipswich’s historic connection with its twin town of Arras in France.
Meanwhile, plans to transform Lloyds Avenue (pictured below) have moved a significant step closer, with construction expected to begin later this year, subject to the final highways agreement from Suffolk County Council. The scheme will create a greener, more pedestrian-friendly route linking the Cornhill with Crown Street, featuring expanded public spaces, improved paving, new seating, cycle parking, planters and enhanced connections to Tower Ramparts and the Plaza area.
Together, these projects represent a coordinated effort to strengthen the town centre’s appeal, improve the experience for residents and visitors, support local businesses and encourage further investment.
As work progresses across multiple locations, Ipswich Borough Council says the message is clear: plans to revitalise the town centre are no longer aspirations for the future but projects actively taking shape today.
