Why it matters: Secured in 2021, the £10.5m Town Centre Regeneration Fund was positioned as the primary vehicle for transformational change following Covid-19, yet has spent only £1.3m with eight months until the March 2026 deadline.
The big picture: The fund was designed to tackle underutilised buildings, deteriorating shop frontages, and high vacancy rates through grants and council-led acquisitions but a Freedom of Information request reveals a stark contrast between the council's original vision and delivery reality.
The details: Of 20 grant applications received, just three have been approved – an 85% rejection rate. The Independent Expert Panel reviewing applications cited reasons including "lack of established credibility," "incomplete proposals," and "unclear financial viability."
The council admits "owners of prominent empty buildings in the town centre had not come forward with proposals" despite repeated promotion of the funding opportunity.
Only the former Grimwades building on Westgate Street has been successfully brought back into use, vacant for 13 years before council acquisition. Jamaica Blue opened its doors earlier this month, and the council remains in negotiations with a retailer interested in taking on the second ground-floor unit. It's undeniably good news for the town, but residents can't be blamed for expecting more progress in four years.
Three additional funding agreements worth £5.356m have been issued and are awaiting completion by grantees, but the council cannot disclose what these projects are, "as the formal grant agreements have not yet been completed." Officials said, "It is intended that as formal grant agreements are completed the details of each funded project will be published."
For context: The fund's struggles occur against a backdrop of political criticism. In March 2024, Levelling Up Secretary Michael Gove singled out the council for "not delivering" on Towns Fund projects, stating "we have not seen the progress that we would expect."
Following accusations that the Labour council were 'holding back' projects until the general election, Conservative MP Tom Hunt accused the council of putting "politics before delivery," whilst council leader Neil MacDonald defended progress.
Fast-forward 16 months and only one project has been completed.
What's next: The council expects "a number of additional stage 1 applications from property owners/developers" over the summer.
Officials project the fund will be "fully committed by March 2026," though £9.2 million remains unspent with eight months remaining.
What they're saying: The council maintains it "has done enough to support applicants" and disputes criticism about process and communication. It stressed that the expert panel was "disappointed with the quality of many applications."
The bottom line: Four years after promising to transform Ipswich town centre, the regeneration fund has yet to deliver the transformational change it promised. With time running out and the majority of funding uncommitted, the risk of squandering this once-in-a-generation opportunity grows ever greater.
