Development at the Wet Dock in Ipswich is at last under way and, being just over an hour from London, it is bound to attract city-slickers sick of London house prices. Amanda Sutton reports
Messing about on the river is a particularly British pastime, and living and working by water is becoming increasingly popular in the UK.
The Wet Dock in Ipswich has been awaiting redevelopment for the past 20 years, and now, under a new owner, the ambitious plans are starting to take shape.
Last week the Duke of Edinburgh officially opened the new lock gates, a sign perhaps of the importance of the waterside area to the town’s future.
Associated British Ports bought the port in 1997. As Martin O’Hara of the Grosvenor Waterside Group, a subsidiary of ABP, explains: “In the past, you could drive around Ipswich and not even see the water – people don’t think of Ipswich as having a waterfront.”
He says that land ownership was an initial problem, but once discussions between all the parties involved got under way, a common aim to regenerate the area was recognised. O’Hara continues: “Basically, 75% of what was wanted, we all wanted. We don’t agree on everything but we decided to work on the 75% we do agree on rather than the 25% we don’t.”
Sue Arnold of Ipswich borough council comments: “We need more pedestrian-friendly links to the town and we are all working towards raising the profile of this area.”
So the Waterfront Steering Group was set up to promote the area and provide a catalyst for investors. Its members are the East of England Development Agency (EEDA), Suffolk county council, Ipswich borough council, ABP, Pauls Malt, Bellway Homes, Suffolk College, The Ipswich Society, and Tolly Cobbold Brewery.
The Ipswich Wet Dock development framework, drawn up by Llewelyn-Davies, Campbell Reith Hill, FPDSavills, Beckett Rankine Partnership and EC Harris, covers 57ha (140 acres), 10 of which constitute the Wet Dock.
The study also discusses improvements needed to the 13ha (32 acre) transition area between Ipswich town centre and waterfront. A busy dual carriageway cuts off the docks area from the rest of the town – this needs to be addressed.
Many port-related industries have relocated to deeper waters downstream, which has left empty buildings and a need to regenerate the whole area.
The proposal for phase one includes more residential development, 2,322m2 (25,000 sq ft) of offices and a mixed-use scheme of approximately 2,322m2 (25,000 sq ft) of restaurants, pubs and retail units, with the possibility of studios, workshops and flats above. New lock gates have been installed, along with a new yacht marina and the promise of a yacht club.
Developments already completed include Bellway Homes’ Neptune Quay, comprising 69 luxury waterside flats and four ground-floor retail units. The selling agent is Bidwells, and its residential partner Guy Jenkinson comments: “Two-bedroomed flats priced at £185,000 were all sold prior to completion and Bellway has provided a catalyst for regeneration.”
Locals snap up residential scheme
He says that buyers have been mostly local people, but some purchasers have bought as an investment, while others have bought them for their children who are studying at the Suffolk College.
Ian Jeffrey, land director at Bellway, comments: “We responded to the market and it didn’t really matter what use the water was put to; everybody looked at the site as a catalyst. We were fortunate on our timing and are looking for other sites.”
The success of Bellway has encouraged major housebuilders to look more seriously at the site and has fuelled demand for land. Keith Haddrell, managing director at Bellway, says: “Our success is double-edged because by shouting about it land prices have risen and more housebuilders want a piece of the pie.”
Speculation is mounting that Beazer Homes will develop on the waterfront, because it already has a presence at the docks in a deal with Anglo Norden producing prefabricated timber-framed houses for the South East.
Felaw Maltings is another success story for the Ipswich dock’s regeneration. The disused maltings have been converted into an office building and John Spice of Bidwells, agent on the building, says that 2,797m2 (30,000 sq ft), which is let to Suffolk College, is unoccupied at present. “They’ll have to start paying rent soon, so I wonder if they will decide to vacate, which will leave a possibility for another telecommunications or software company,” he says.
Hi-tech firms are being drawn to Ipswich and the IP-City group has been created to enable local hi-tech businesses to form a strong voice in the business community. Spice says: “Ipswich is on the brink of new growth and the waterfront redevelopment has definitely attracted occupiers who otherwise wouldn’t have looked here.”
Rents are still comparatively cheap, at £86 per m2 (£8 per sq ft), compared with £129 per m2 (£12 per sq ft) in Colchester and Norwich and £215 per m2 (£20 per sq ft) in Cambridge. Cost is important for new internet start-up companies and this could be a factor in choosing Ipswich.
Paul Fincken of North West Estates, which developed Felaw Maltings, comments: “We’ve been criticised for offering incentives and having only government bodies as occupiers, but the hi-tech companies we’re attracting disproves this.
“We have more competitive rental deals than Cambridge and potential occupiers see the Wet Dock as a place that’s going to develop.”
The area is still heavily industrial and has the trademark lorries, smell and general mess that this affords, but companies are relocating to make way for new industries.
Potential hotel site
Grahams, the builder’s merchants, has a shed alongside Felaw Maltings and the lease runs out in 2007. Market rumour suggests it will leave before then and North West has the first option to develop the site, which could house a much-needed hotel for the town.
In April, the EEDA acquired the Cranfield Mill site, located at the entrance to the Wet Dock. Proposals for it are expected to favour mixed-use development with residential, a 150-bed hotel, and waterfront bars and restaurants.
Neil Colvill, regional manager of EEDA, comments: “We hope to strip away the grey hoardings to reveal the old brick mill underneath, and the building will provide opportunities for leisure operators wanting water-frontage.”
Proposals from developers are being invited. Bidwells, the agent acting for the site, had a scare on the day of completion when a fire broke out on site. Luckily, it was St Peter’s warehouse next door, for which there are plans for residential conversion, and the Cranfield site was not effected.
Bidwell’s Spice comments: “We felt we’d get the best terms with the EEDA – the best price and security. The EEDA wanted a major development in the Wet Dock to pump development elsewhere in the waterside area.”
A company set for a possible move into the Wet Dock is Contship, which occupies a refurbished, glass-fronted warehouse on the edge of the dock area, but is looking to expand.
Responding to criticism about the length of time it has taken to pull the site together and how long it will be before the last workmen leave, ABP’s O’Hara comments: “Bring people down here – I’m showing you cranes. It’s not a five-minute, quick-fix job.”
So, by 2015 they might just finish it.
