For six years this concrete skeleton of a building has been a sign of recession.
It dominates the skyline in many of the routes into Ipswich and as you approach the Waterfront it's not the only derelict building you see.
The financial crisis in 2008 brought building work along the waterfront to a standstill.
Developers went into administration and it's only now that those buildings are coming out of receivership and into the hands of new owners."
One of them is John Howard. He and his business partner have purchased the so called 'wine rack' and hope to start building work in the next six months.
While one end of the waterfront appears to be thriving, at the opposite end the Borough Council believes it needs to step in to create an impressive entrance to the area, with private flats and an open public space.
Work could start by the end of next year, with plans to open up a route straight into the town centre.
The town centre is also seeing investment.
Tower Ramparts is to have a £4 million makeover next year and a new name- Sailmakers- reflecting plans to develop Ipswich as a waterfront town centre.
With building projects already underway on the other side of the water, it's hoped it won't be long before other developers are attracted to the town.