New shops at Bury St Edmunds Post Office redevelopment at 17-18 Cornhill are still empty, but most flats have been snapped up

Shops built as part of a multi-million district council redevelopment project in Bury St Edmunds town centre are still standing empty, more than four months after the project was completed.

The vacant shops are in a prime town centre location, occupying the ground floor of the former Post Office development fronting Cornhill, St Andrew’s Street South and the widened Market Thoroughfare.

Meanwhile, all but one of the residential flats within the development have either sold or been reserved.

However, a penthouse apartment offering views across the rooftops of the town centre to the countryside beyond is still on the market.

The penthouse – with a guide price of £500,000 – is the last of the 12 apartments still available and has two bedrooms and a balcony.

Of the other apartments, six have been sold and are now occupied, while contracts have either already exchanged or are close to exchanging on the remaining five.

But on the ground floor, the two glass-fronted commercial units remain empty.

A spokesman for West Suffolk Council said: “While we have received interest for both commercial units, we are ensuring that any uses are appropriate for the location.

“We acknowledge the letting market for retail property is challenging at present, due to wider economic challenges, and we will be looking at ways to refresh the marketing over the summer, working with our appointed agents.”

The first shop – fronting St Andrew’s Street South – is 1,410sqft and marketed at a rent of £50,000 per year while the second – fronting Cornhill – is 1,700sqft and £60,000.

“We continue to welcome interest from local, regional and national retailers alike and are open to proposals for flexible leasing arrangements,” said the spokesman. “In the meantime, our budget forecast allows for the holding costs while the units are vacant.”

The spokesman added that the ‘holding costs’ were business rates, although there were ‘none at present as we are using the national empty property rate relief’.

The multi-million pound Post Office redevelopment was officially completed and handed over to West Suffolk Council in March.

The development maintained the Victorian frontage of the former Post Office and widened Market Thoroughfare by more than 50 per cent, to 3.8 metres.

The project was originally budgeted to be cost-neutral to the taxpayer, however it is not yet known if this aim has been met.

The West Suffolk Council spokesman said: “We are still in commercial negotiations over the final account with the contractor.

“Once this final position is clear it will be reported back publicly to councillors.”

The council bought the site for £1.6 million after the Post Office decided in 2017 to move to nearby WH Smith.

Councillors backed a £6.72 million investment into the site in April 2018 and construction started in September 2020.

New Anglia Local Enterprise Partnership was awarded £32.1 million through the Government’s Getting Building Fund, including £2.75 million for the Cornhill project.

For more information about the penthouse or to arrange a viewing, contact Bedfords on 01284 769999.