Ipswich Borough Council (IBC) is ambitious for our town. Last week a council delegation visited a large UK conference called UKREIIF (UK’s Real Estate Investment and Infrastructure Forum), with a focus on the Investment part of the title.
The key part of the conference for me was the launch of an investment prospectus. This was led by the Inward Investment Working Group for the East of England, which is chaired by Jack Abbott MP. It is a sub-group of the East of England APPG (All Party Parliamentary Group) of MPs from the East. Partners from across the East of England, including IBC, have come together to produce the Opportunity East Investment Prospectus.
The launch reflects Labour’s ambition for Ipswich, and I am delighted that the Portman Road redevelopment is included in the Prospectus. It has huge regenerative potential for our town and will serve residents for generations to come. Google “Opportunity East” to find the prospectus.
The launch was hosted by Jackie Sadek, an experienced urban regeneration expert, who is currently leading on growing the “Innovation Corridor” between London and Cambridge.
She introduced Jack as the mission champion for the East, saying that he is doing a “stonking job”, was “steeped in clean, green energy” and brought “a laser focus on bringing in investment money”. She also commented that East Anglia is an “undersung story”.
Jack Abbott then presented a collection of eight projects, worth around £4billion. This was a statement of intent to bring thousands of jobs to the region and provide homes, infrastructure and facilities for local people. These are “shovel-ready” projects. There is a promise of more investment ready projects in future years.
There is a single Suffolk project in the prospectus, the masterplan for Portman Road, which is exciting.
The Portman Road redevelopment offers investors a £120m regeneration scheme composed of three interlinked developments: a state-of-the-art Aquatics Centre, a 150-room 4-star Hotel, and a large Multi-storey Car Park. The opportunity supports the economic regeneration of central Ipswich, aligned with carbon neutrality goals and strong demand for facilities.
Jack commented that Suffolk has got to stop saying no and that he has been described as the “nuclear Bob Geldof” as he keeps asking for more money for Sizewell!
Jack concluded by saying that he was as ambitious for our area as local people are, and that we can kick on and deliver the investment in this prospectus. The launch was just the start, and we need to crack on now, to make these projects a reality.
The Investment Prospectus, and the wider work lBC are doing, in partnership with Jack Abbott MP, will help attract forward-thinking investors who share our commitment to a healthier, more vibrant Ipswich.
We don’t want to just talk about our town’s potential; we want to deliver on it.