Focus on Five
The Portfolio Valued at over £103 million in March 2022, Tunbridge Wells Borough Council’s portfolio generates an annual rental income of £1.97 million and has an annual maintenance budget of £1.024 million. The portfolio comprises a full range of property uses including commercial, residential, light industri- al and retail properties, woodland and community land, and footpaths and pieces of ancillary land. The portfolio houses both operational and investment assets including both leasehold and freehold titles. At present the portfolio includes 64 commercial investments, 150 operational, 275 non-operational assets and key assets under development. Example projects include: • Weald Leisure Centre and North Farm Depot – major decarbonisation investment in key op- erational assets. • Royal Victoria Place – shopping centre development leased to British Land. The Council contin- ue to work with British Land to maximise the capital and revenue value of this asset and as part of the continued regeneration of the town centre. • Redevelopment of the Town Hall – Planned reduction in operational space delivering a co-work- ing partner and commercial occupiers. Planning in process with delivery in Spring 2023.
At the Annual Meeting of Tunbridge Wells Borough Council on Wednesday 25 May 2022 Councillor Ben Chapelard was elected as Leader. The new administration has five key priorities, their Focus on Five: • Safeguarding finances • Vibrant and safer town and villages • Carbon reduction • Genuinely affordable housing and social rental housing • Digital access, transparency and local democracy
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