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Futura Park

FUTURA PARK FUELS SUCCESS FOR LOCAL ECONOMY

22 March 2013

Futura Park, Ipswich’s new retail and business park, is already proving an economic success story, creating hundreds of jobs for local people, with deals now signed for all of the stores in the second phase of retail, which sits alongside the flagship John Lewis at home and Waitrose complex. Developer AquiGen has named the confirmed retailers as furniture store DFS, Paul Simon Curtains, Furniture Village, Oak Furniture Land, Costa Coffee and Carphone Warehouse.

The John Lewis at home and Waitrose stores, which opened to the public last November, now employ 350 people and trading has been strong since their launch. With the recent appointment of local company Barnes Construction as a site contractor, further jobs will be created, nearly all filled by people from the nearby area.

Paul Isaacs, Managing Director of AquiGen commented: “The retail sector at large is suffering at present, so we are greatly encouraged by the success of Futura Park. The fact that the retail space in phase two was pre-let so quickly demonstrates the appeal of the development. The new stores in phase two will create yet further jobs, ensuring that Futura Park brings lasting regeneration and prosperity to this area of Ipswich.”

Nigel Keen, Waitrose Director of Development said: “"We have worked hard to ensure we provide our customers with quality products, excellent service and value so we play our part in attracting shoppers to Ipswich. The reaction we have received both at Futura Park and at our little Waitrose in the town centre has been fantastic. In what has undoubtedly been a challenging time for businesses, it's important to ensure that Ipswich as a whole remains a popular shopping destination so it's encouraging to that the town continues to attract major investment like Futura Park."

Futura Park, between Ransomes Way and Nacton Road, occupies the site of the former Crane foundry to the South East of the city centre and will provide 44 acres of new business and retail space. The development’s first phase was a 26,500 sq ft Waitrose and a 43,000 sq ft John Lewis at home, the first of this new combined format to open. Attracted by this strong anchor tenant and the quality of the scheme, the 66,000 sq ft of retail space in phase two has been quickly pre-let to tenants. Construction of the second phase is due to start in April and the stores are expected to open in August.

Outline planning permission has also been granted for 25 acres of employment land to accommodate up to 600,000 square feet of new offices, warehousing and industrial space, with the potential to create hundreds of further jobs. The redevelopment will also include the construction of new infrastructure and landscaping, creating an attractive and sustainable new business community.

For further information contact agents Coke Gearing, Richard Coke on 01279 758758 or Savills, Chris Moody on 01473 234 800