Investment of £20m for half-finished building
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Ipswich 'Winerack' receives £20m to be completed

A building that became a symbol of the financial crash of 2008 is finally set to be completed after £20m of public money was secured.

Work on the structure on Ipswich Waterfront, which has become known locally as the Winerack, ceased nearly a decade ago.

It will include 149 apartments and an area of commercial space. Work is due to resume later this year.

The Homes and Communities Agency has put forward £15m, while the New Anglia Local Enterprise Partnership has invested £5m. Both are loans and will be repaid, plus interest, by the developers, Ipswich Wharf Developments, once the properties are sold.

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  • 21 Apr 2017
  • From the section Suffolk