Royal Victoria Place
Entrance to Royal Victoria Place from Calverley Road
Map
LocationTunbridge Wells, Kent, England
Coordinates51°8′4″N 0°15′56″E / 51.13444°N 0.26556°E / 51.13444; 0.26556
Opening date21 October 1992[1]
DeveloperMEPC[2]
OwnerTunbridge Wells Borough Council (2023)[2]
No. of stores and services99[2]
No. of anchor tenants7
Total retail floor area1,000,000 sq ft (93,000 m2) gross floor area including over 300,000 sq ft (28,000 m2) covered retail[2]
No. of floors
Parking1,689 spaces[2]
WebsiteOfficial website

Royal Victoria Place is a British, partially covered shopping centre in Tunbridge Wells, Kent. In 2019, it contained 99 retail units, as well as the Camden Centre, a community facility managed by Tunbridge Wells Borough Council.[3][2]

History

Royal Victoria Place was opened by Diana, Princess of Wales on 21 October 1992. Construction took 36 months and built over the railway line between Tunbridge Wells and High Brooms stations.[4][1][5]

Tunbridge Wells Borough Council owns the shopping centre freehold and is obliged to pay 10% of certain refurbishment costs. The rent it receives varies with gross rentals but as of 2019, is a minimum of £882,000 per year. The head lease from the council runs until 2192 and is currently held by BL Tunbridge Wells Ltd, a subsidiary of British Land.[2]

Hermes Investment Management bought out its fellow head lessee, Westfield Group's interest in 2012, and sold the whole to British Land for £96 million in 2018. BL Tunbridge Wells Ltd wrote off the value of its property by £15 million in 2019; £37 million in 2020, and a further £31 million in 2021.[2][6][7][8]

References

  1. ^ a b "Memories of Princess Diana". Westfield Group. Archived from the original on 30 September 2007. Retrieved 4 September 2007.
  2. ^ a b c d e f g h i j Royal Victoria Place Tunbridge Wells Update (PDF). Tunbridge Wells Borough Council (Report). 24 October 2019. Archived (PDF) from the original on 21 August 2022. Retrieved 21 August 2022.
  3. ^ "Camden Centre". Tunbridge Wells Borough Council. Archived from the original on 31 March 2022. Retrieved 21 August 2022.
  4. ^ "Royal Tunbridge Wells And Pantiles". Travel Britain. Archived from the original on 28 September 2007. Retrieved 4 September 2007.
  5. ^ "Victoria Place Shopping Centre Refurbishment". Spence. Archived from the original on 15 October 2021. Retrieved 21 August 2022.
  6. ^ Smith, Alan (21 March 2018). "British Land buys Royal Victoria Place in Tunbridge Wells". Kent Online. Archived from the original on 25 July 2021. Retrieved 21 August 2022.
  7. ^ BL Tunbridge Wells Ltd Annual Report and Accounts for the year ending 31 March 2021 (Report). 2021 – via Companies House.
  8. ^ BL Tunbridge Wells Ltd Annual Report and Accounts for the period ending 31 March 2019 (Report). 2019 – via Companies House.

External links

Royal Tunbridge Wells
Westfield Corporation in the United Kingdom
Shopping centres in South East England
Categories