Suffolk family denies buying Ipswich Buttermarket shopping centre

Summarised from 2 outlets · Updated 23 Oct, 13:44 · Archive

The Hembry family has denied it will purchase Ipswich's Buttermarket shopping centre, following rumours of a cut-price £5m deal. Maxwell Hembry said the family was an under bidder when the shopping centre went to market and conducted due diligence on the site, but believed a foreign investor group was selected as the preferred bidder. He disputed reports that the family had offered £5m, saying its offer was close to the asking price, which he stated was around double that figure.

The Buttermarket was put up for sale by its current owners in January. The centre manager at the time said the sale represented 'a massive new opportunity for new owners' and noted 'so much untapped potential' if new owners had 'the right vision and ambition'. The Buttermarket has recently reported a 1.3 per cent year-on-year increase in footfall for 2025, defying broader challenges facing the UK high street. The centre experienced disruptions after a burst water-main forced closure from 28 August to 3 September.

How it is being reported

• Suffolk family denies £5m Buttermarket deal amid purchase rumoursThe Hembry family denies it will buy Ipswich’s Buttermarket shopping centre, disputing claims of a cut-price £5m deal after making an unsuccessful bid.East Anglian Daily Times · 23 Oct, 12:45
• Suffolk family denies £5m Buttermarket deal amid purchase rumoursThe Hembry family denies it will buy Ipswich’s Buttermarket shopping centre, disputing claims of a cut-price £5m deal after making an unsuccessful bid.Ipswich Star · 23 Oct, 12:00

In this story: Hembry family · Buttermarket · Ipswich · Maxwell Hembry · Rebecca Bird

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