Nottingham developer goes shopping for 133,000 sq ft mall

A Nottingham developer has swooped for a 133,000 sq ft shopping centre in Ipswich town centre.

ALB Group has bought the Sailmakers shopping centre, in Tavern Street, which is home to high street brands including Boots, HMV, River Island, Poundland and Baldwins department store. The firm says a refurbishment process has already begun.

With around 25% of the venue currently unoccupied, including the 7,500 sq ft former Top Shop store, the new owner is promising to take a “fresh approach” to encourage more local businesses into the space.

Part of this plan includes the complete refurbishment of two units in the centre and earmarking them for local designers, artists, charities or businesses interested in taking on an eight-week pop-up opportunity at a “very low” rent.

ALB Group has been busy acquiring town centre properties in other parts of the UK in a drive to “rethink and revive” struggling high streets.

Its key strategy is to offer more affordable and shorter, more flexible leases and creating a more attractive environment for local, independent entrepreneurs to trade.

Arran Bailey, managing director of ALB Group, said: “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.”

The marketing of the available retail units in Sailmakers shopping centre is being carried out by Prime Retail and FHP.

Tim Lloyd, partner at Prime Retail, said: “I’m excited to be working alongside a company as forward-thinking and hands-on as ALB Group. Sailmakers has been in desperate need of new owners for some time and, as a resident of Ipswich myself, I see true potential here.

“If we can target independent and local operators, and offer flexibility with low costs on units that are ready for immediate occupation, we will help to begin the revival.

“In view of what ALB Group has already achieved elsewhere in the UK, Sailmakers couldn’t be in better hands.”

Oliver Marshall, associate director of FHP, said: “Sailmakers ticks all the boxes in terms of opportunity. It already has some great tenants, and we are looking to build on that.

“We’re taking a fresh approach to the marketing, and we’re happy to discuss all active interests. The key here is flexibility, which many other high street landlords have failed to offer previously.”

Phil Daniels, director of FHP, who represented ALB in the acquisition, added: “It was a pleasure to work with Prime Retail and ALB Group on the successful acquisition of this shopping centre.

“Following recent acquisitions of smaller retail assets in Stoke-on-Trent, Derby and Nottingham, Sailmakers represents a new scale of ownership for the ALB Group, which is actively seeking further opportunities UK wide.”

Pictured: Harry Whyte (ALB), Tim Lloyd (Prime Retail) and Arran Bailey (ALB)