Council officially acquires old Debenhams building in Ipswich

There is incredibly positive news for the future of our town centre this week, as Ipswich Borough Council has officially acquired Waterloo House—the former Debenhams building on the Cornhill.

Standing empty since the department store closed its doors in 2021, the prominent building has been a long-standing challenge for the town. Now, thanks to funding from the Government’s Local Regeneration Fund, the Council has taken control of this strategically vital site to breathe new life into the very heart of Ipswich.

Taking Direct Action for Our Town

Leaving a building as large and central as Waterloo House vacant can undermine confidence and impact nearby businesses. The Borough Council recognised that leaving it empty would reduce the positive impact of all the wonderful regeneration work already taking place around the Cornhill.

Councillor Neil MacDonald, Leader of Ipswich Borough Council, highlighted the importance of stepping in:

“Waterloo House is one of the most important buildings in Ipswich town centre, but for too long it has stood empty in a location that should be full of life. We have already invested in improving the public realm, bringing empty buildings back into use and supporting new businesses and attractions. Acquiring Waterloo House will now allow us to tackle one of the biggest remaining challenges in the town centre.

“This is about taking direct action where the market has not delivered. By bringing the site into Council ownership, we can remove a long-standing blight, unlock future redevelopment and create an opportunity for something much better for Ipswich.”

Jack Abbott, Member of Parliament for Ipswich, also expressed his support for the project:

“The acquisition of Waterloo House is another important step in the wider regeneration and investment programme of Ipswich’s town centre. It sits in a pivotal location, but this empty building has left a scar on our high street for half a decade, and I know how desperately local residents want it to be given a new lease of life.

“I am clear that the aim cannot simply be to replace an empty building—we must create a vibrant, sustainable and attractive destination in the heart of our town that supports the future growth and prosperity of Ipswich.”

What Happens Next?

Bringing a large, 1970s department store back into use is no small feat. The building has been largely stripped of its essential services, including heating, water, and lifts, meaning it requires significant investment.

Rather than rushing into a quick fix, the Council is planning a developer-led design competition. This exciting approach means that full development teams—including architects, planners, and funders—will be invited to submit comprehensive, financially viable proposals for a modern, mixed-use redevelopment. The goal is to find a reliable partner who can design, fund, and deliver a scheme that meets the true needs of our community, whilst bringing fresh activity and connectivity to the Cornhill.

A Continued Commitment to the Cornhill

This latest acquisition perfectly aligns with the broader strategy to make the Cornhill a busy, enjoyable, and safe destination. It follows a string of successful recent investments in the area, which include:

• The beautiful restoration of the Grade II listed former Post Office, now home to The Botanist.
• The purchase and refurbishment of the former Grimwades building, welcoming cafes and giving Suffolk New College a brilliant new education and skills facility on the upper floors.
• The acquisition of the historic Lloyds Bank building to safeguard its long-term future.
• The installation of the UK’s first live digital Portal sculpture and immersive digital binoculars showcasing Ipswich’s rich Victorian heritage.
• Planned improvements to make Lloyds Avenue greener and more pedestrian-friendly.

With Waterloo House now in public ownership, we can look forward to seeing this historic square reach its full potential. It is a huge step forward for the Proud of Ipswich vision, helping to create a thriving town centre where we can all feel welcome to socialise, work, and enjoy our free time.

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Press Team

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