A prominent building in Ipswich town centre which has stood empty for years has been acquired by the council with plans to demolish it.
Waterloo House, the former Debenhams store, has been bought by Ipswich Borough Council, with the building standing empty for more than five years.
Debenhams closed in Ipswich in May 2021, one month after Unex Group purchased the site for more than £3m.
Since then, however, it has been empty, with little information as to what the building could be next.
It has now been confirmed that the borough council purchased the building and they believe that leaving the building vacant would continue to undermine confidence, weaken the trading environment for nearby businesses, deter investment and reduce the impact of the wider regeneration work already taking place around the Cornhill.
They also said that bringing the current building back into use would require "significant investment and would not be financially viable", with the preferred option being a developer-led design competition for a mixed-use redevelopment of the site.
Neil McDonald, leader at the Labour-run council, said: "Waterloo House is one of the most important buildings in Ipswich town centre, but for too long it has stood empty in a location that should be full of life.
"This is about taking direct action where the market has not delivered. By bringing the site into Council ownership, we can remove a long-standing blight, unlock future redevelopment and create an opportunity for something much better for Ipswich.
"Our ambition is to work with future development partners to deliver a scheme that meets the needs of Ipswich, supports economic growth and contributes to a vibrant town centre that residents can be proud of."
Jack Abbott, MP for Ipswich, said: "The acquisition of Waterloo House is another important step in the wider regeneration and investment programme of Ipswich's town centre. It sits in a pivotal location, but this empty building has left a scar on our high street for half a decade and I know how desperately local residents want it to be given a new lease of life.
"With that in mind, I am delighted Ipswich Borough Council are using Government funding to take ownership of the building as a flagship project for the town centre's regeneration.
"I am clear that the aim cannot simply be to replace an empty building - we must create a vibrant, sustainable and attractive destination in the heart of our town that supports the future growth and prosperity of Ipswich."
This is the latest acquisition made by the council, with the Grimwades building also being purchased and turned into Jamaica Blue, Lovisa and an education centre.
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