the south east |
TONBRIDGE AND MALLING – A VIBRANT KENT ECONOMY A
recent piece of analysis by Grant Thornton UK LLP has revealed that
Tonbridge and Malling is the most vibrant economy in Kent. Using over 50 different datasets, covering 'trust and integrity', 'sustainable growth' and 'thriving environments', the Vibrant Economy Index is a comprehensive analysis of economic performance. So why does Tonbridge and Malling perform so well? Part of the answer lies with standard measures of prosperity, such as high GVA per job, strong workplace earnings and impressive business turnover, but also because of strong rates of development and business formation. In recent months, there have been a
number of exciting new commercial developments progressing and completing in the borough, including: • Following a partnership between Tonbridge & Malling Borough Council and local creative businesses, Castle Lodge in Tonbridge is being refurbished and converted into a new co-working space for small and start up businesses.
• Construction is now well underway at Cricketts Farm, which will become the
KINGS HILL
has led to Kings Hill company group leasing a second office on the business park. The company moved to Kings Hill in 2015 in what was one of the largest commercial property deals signed in Kent that year. “At the time, the office space we had
E
taken was not only sufficient for our needs, but allowed for considerable planned expansion,” said Sarah Adams, Operations Director of tifgroup, which employs more than 260 staff and insures over three million policyholders annually. “However, our growth has been much
faster than planned, a fact of which we are exceptionally proud, and we needed more space to continue to grow our business. We enjoy being part of the Kings Hill community so wanted to stay here, which is why we are keeping our original office as well as taking on another one within walking distance. “Our staff enjoy working at Kings Hill and appreciate the on-site shops and choice of places to eat as well as the green, landscaped environment. Our team are the reason we have been so successful.”
COMMERCIAL PROPERTY MONTHLY 2018
xceptional growth to become one of the largest travel insurers in the UK
ermes Investment Management, the £33.6 billion manager, has sold the Royal Victoria Place shopping centre in Tunbridge Wells to British Land. The centre has 280,000 sq.ft of retail and leisure space, comprising 90 retail units which are anchored by a 90,000 sq.ft Fenwick department store. Chris Taylor, Head of Private Markets at Hermes Investment Management, said: “The successful disposal of Royal Victoria Place follows a proactive asset management strategy that has maintained income whilst we endeavoured to find a solution to enhance the retailing environment, including securing planning for an extension, which has added value to the investment. The disposal continues our divestment away from the retail sector, which is looking increasingly challenged. Following the sale, we will be reinvesting capital into diversified sectors where additional added value can be achieved.” CBRE acted on behalf of Hermes Investment Management
H Castle Lodge interior
new home and corporate HQ of the O'Keefe Group later this year, as well as providing commercial premises for other businesses on the 10 acre site.
• An application has recently been submitted for a further extension to the hugely popular Nepicar Park, which was completed by Gallagher Group Ltd in 2016. This expansion would see a
PLACE SOLD W VICTORIA ROYAL
further six B1/B8 units as well as a two storey office development. For further information on any of these developments please contact
economic.regeneration@
tmbc.gov.uk For further information on the Vibrant Economy Index go to
www.grantthornton.co.uk/insights/vibrant- economy-index/
DISTRICT SUCCESS STORY
THE DOVER
ith major investments in town centre and waterfront regeneration, new commercial, retail and leisure space, and the biggest house- building programme in a generation, it’s time to take a fresh look at Dover District.
St James in Dover town centre is now open, with a six-screen Cineworld cinema, 108-bed Travelodge, and a host of retailers already open or coming soon. The Dover Western Docks Revival is underway with multi-million pound construction on a cargo terminal and logistics facility and exciting plans for Dover Waterfront. Dover is the UK’s second busiest cruise port, it is 21 miles from Calais, and an hour from London by high-speed train. Dover has excellent opportunities at
Discovery Park and Betteshanger, and a new £26m leisure centre for Whitfield. Dover District are also working with partners to welcome the Open Golf Championship back to Sandwich in 2020. For more information, see
www.investindover.co.uk
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