Zenzic Partners is pleased to announce it has advised on a major funding deal for a landmark waterfront mixed-use scheme in Ipswich.
The Homes and Communities Agency (HCA) is set to provide £15m to the Regatta Quay project, known locally as the Winerack, through its Home Building Fund. The investment will be supported by a £5m facility from New Anglia Local Enterprise Partnership (LEP) through its Growing Places Fund. Construction is expected to commence later this year. Once completed, the project will create 149 residential units and 5,000 sq ft of commercial space, and will support 56 new jobs.
Zenzic Partners was retained to provide full financial and structuring advice for the scheme which has been in a semi- constructed state since 2008.
Ipswich MP Ben Gummer said: “People in Ipswich have been waiting a long time for this moment – promised for ages and now at last it has come. We have confirmation that the Winerack project is now fully-funded and ready to go. We should see builders on site soon.
‘It has taken six years to get to this point, from when in 2011 I brought NAMA, the Irish bank who owned the building, over from Dublin to Ipswich in an effort to get things moving. Down to tense phone calls we have had over the last few weeks, this has taken an enormous amount of effort.
‘I am very grateful to the HCA, the New Anglia LEP, Ipswich Borough Council, Zenzic and most of all to John Howard, for making this project happen. We all now want to see the project delivered so that we can remove this blight from the town’s skyline and our town show its ambition in full again.”