Sailmakers shopping centre in Ipswich to be auctioned off

The Tavern Street complex will go under the hammer with property auctioneers Allsop on Thursday, March 21. 

According to the auction listing, the building has been set with a guide price of in excess of £3m. 

The shopping centre was last sold in 2022 (Image: Newsquest)

The property comprises of 86,539 sq ft and is currently occupied by a number of retailers such as River Island and Poundland. 

It comes less than two years after the shopping centre was purchased by Nottingham-based company ALB Group. 

The centre, which was previously known as Tower Ramparts until 2014, has been sold a number of times since it first opened in 1986. 

Originally owned by Church Commissioners, it was sold to Pillar Property Investments five years later in 1991. 

A £22.36m deal was completed by Prudential in 1995, before it was again sold for £24.3m in 1999. 

It was sold again in 2002 for £26m, before its price rose to in excess of £30m in 2005. 

LaSalle Investment Management then purchased the complex in 2011. Three years later saw the centre change its name from Tower Ramparts to Sailmakers as part of a £4m investment.

The sale comes shortly after plans for 26 flats inside the shopping centre were given the green light. 

The shopping centre when it was known as Tower Ramparts (Image: Newsquest)

Proposals for the apartments show the building's first and second floors will be converted, with retail units unaffected by the plans.

Toby Warren, head of policy at Suffolk Chamber of Commerce, said of the auction listing: “During its period of ownership, ALB has done a lot to ensure that Sailmakers has a long term future.

Toby Warren, of Suffolk Chamber of Commerce (Image: Nicky West Photography)

"We are sure that a new owner will recognise that Sailmakers is a key town centre asset and will want to continue the work that ALB has started.”

Sailmakers has been approached for comment.