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Sailmakers acquired by ABL Group

The Sailmakers shopping destination in the heart of Ipswich has been bought by Nottingham property company ALB Group. The scheme in the town’s Tavern Street is… View Article

UK HIGH STREET NEWS

Sailmakers acquired by ABL Group

The Sailmakers shopping destination in the heart of Ipswich has been bought by Nottingham property company ALB Group.

The scheme in the town’s Tavern Street is home to high street brands such as Boots, HMV, River Island, Poundland and Baldwins department store.

The new owners have said a refurbishment has already begun. With around 25% of the 133,000 square feet of retail space currently unoccupied, including a 7,500 square foot former Top Shop store, ALB is promising to take a fresh approach to encourage more local businesses into the space. This will include earmarking two refurbished units for local designers, artists, charities or businesses interested in taking on an eight-week pop-up opportunity.

ALB Group has also been acquiring town centre properties in other parts of the UK in a drive to “rethink and revive” struggling high streets. Part of its strategy involves offering more affordable, shorter and flexible leases.

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

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