Repair costs for Ipswich tower block could reach £30 million
If a buyer's not found, the development could enter liquidation
Last updated 4th Mar 2024
Costs to repair structural and fire safety issues on a tower block in Ipswich could reach £30 million pounds.
That's according to administrators for the Mill, which went into administration in 2010.
The building was was deemed unsafe after cladding was torn off during strong winds more than a decade ago.
In a letter seen by Greatest Hits Radio, administrator RSM UK's told residents that funds were expected to run out in the summer.
There are now concerns that, if a buyer's not found, the development could enter liquidation.
This would leave residents to pay the running costs - which are thought to be around £500,000 a year.