Be part of a better Ipswich

Be part of a better Ipswich

I have a viability gap preventing me from bringing an empty property back into use

I have a viability gap preventing me from bringing an empty property back into use

We’re delighted that you are interested in making a difference in Ipswich through bringing empty property back into use. Before you start your application here are the selection criteria that a panel of independent experts will use to consider your proposal. Please bear them in mind as you complete your expression of interest.

Selection Criteria

Projects will be reviewed by an independent panel of experts and their suitability will be assessed against:

  • Scale of likely positive impact on the town centre
  • Deliverability – projects must be complete by February 2026
  • Value for money – that the return on the public sector investment will provide value to the Ipswich economy
  • Ability to increase footfall in the town centre and drive interest in Ipswich
  • Ability to demonstrate that public sector investment is needed as the market has not been able to respond due to wider economic issues i.e. market failure
  • Financial return on investment to the Regeneration Fund

In addition, applicants must:

  • Be able to demonstrate they are sufficiently financially robust to deliver the whole project – financial and legal due diligence will be completed after the expressions of interest assessment process.
  • Agree to open book accounting for the project with detailed financial information shared with the Council.
  • Be able to satisfy the subsidy control tests if grant is awarded.

An independent expert panel will assess projects against the criteria and identify those that will be invited to progress to a full business case stage. The package of proposals that are invited to develop full business cases will be those that collectively deliver maximum benefit for Ipswich.

The decision of the panel about whether your project will proceed to a detailed business case will be final and there will be no appeal process.

In addition, applicants must:

  • Be able to demonstrate they are sufficiently financially robust to deliver the whole project – financial and legal due diligence will be completed after the expressions of interest assessment process.
  • Agree to open book accounting for the project with detailed financial information shared with the Council.
  • Be able to satisfy the subsidy control tests if grant is awarded.

An independent expert panel will assess projects against the criteria and identify those that will be invited to progress to a full business case stage. The package of proposals that are invited to develop full business cases will be those that collectively deliver maximum benefit for Ipswich.

The decision of the panel about whether your project will proceed to a detailed business case will be final and there will be no appeal process.

To apply for the Town Fund you must be one of the following:

  • Be the owner of the freehold
  • Be the agent of the owner of the freehold
  • Be the owner of the leasehold and the lease expires in [insert year]
  • Be the agent of the owner of the leasehold and the lease expires in [insert year]

You must also:

  • Provide your plan to bring the property back in to use.
  • Detail the viability gap preventing you from brining this vacant property back in to use.
  • Detail what support you are seeking from the Regeneration Fund to bring the property back in to use.
  • Provide a business plan detailing:
    – Total capital expendature
    – Private capital contribution value and source
    – Regeneration fund contribution required
    – Other public sector contribution required
  • Detail any consents that you may need for your business idea and if you have enquired or secured these consents.
  • Provide a copy of your project plan detailing how long it would take to deliver your idea in a current vacant property, and who makes up your professional project team (e.g. architects).
  • Outline why your idea can’t be done without the support of the Regeneration Fund.
  • Detail how your idea will contribute to the vibrancy of the Ipswich Town centre (e.g. increase footfall, create a visitor attraction)