Four abandoned retail units located close to Tonbridge Railway Station will be given a new lease of life, thanks to over £220,000 of investment from The Arch Company, the UK’s leading small business landlord and jointly owned by Blackstone and Telereal Trillium.
Units 1, 3, 5-6 & 7 on Railway Approach, Tonbridge, have been vacant since 2017 and are currently in poor condition. The £220,000 investment will see The Arch Company fully refurbish the spaces, so that they can become new homes for businesses, creating up to 20 new jobs in process. Improvement works include stripping out and relining the spaces, roof repairs and restoring utilities.
Ahead of the full refurbishment works commencing, The Arch Company has also been working closely with Tonbridge and Malling Borough Council interim works, funded by the council, to remove old signage, repaint, and use vacant shop windows to advertise community events.
The investment is part of The Arch Company’s £200m development plan – Project 1000 – to bring a thousand empty or derelict spaces into use across England and Wales by 2030. Works will run from March, with completion expected at the end of summer.
Henry Cox, Leasing Manager at The Arch Company, said: “We look forward to transforming these four spaces and supporting up to 20 new jobs in the local area. We took on responsibility for their management in early 2019 and found them to be in a dilapidated state and in need of considerable investment. Given their excellent location, we hope they will make great spaces for businesses once the works are completed.”
Cllr Vivian Branson, Tonbridge and Malling Borough Council Cabinet Member for Economic Regeneration, said: ‘First impressions count and these retail units are one of the first things people see when arriving in Tonbridge by train. While our interim improvements helped smarten up the units’ exteriors, it’s great news that they are going to be fully refurbished and provide an attractive welcome to our wonderful town. We look forward to working with The Arch Company on this exciting project and bringing new businesses to the area.’
Tom Tugendhat, MP for Tonbridge and Malling, said: “Railway Approach is a key entrance to town from the station and the units have been in need of modernising for many years. I am delighted that The Arch Company is bringing forward a refurbishment scheme that will mean they can be occupied over the next year. I look forward to working with them and all future occupiers.”
Mark Hood, Tonbridge and Malling Borough Councillor for Judd Ward, said: “I am delighted that refurbishment work is commencing on Railway Approach to bring these units back into productive use and regenerate this area which is the gateway to our town for visitors arriving by rail. There is huge potential here for existing and start-up businesses and the footfall could not be greater. As local councillors April Clark and I cannot wait to see which businesses fill the vacant units and bring the whole area back to life. Tonbridge is a vibrant town and empty properties are few and far between and residents have been asking us when the units will be available for lease so this is great news for everyone.”
For any businesses eager to register interest in leasing one of Tonbridge retail units spaces, applications will be considered from the summer, with details on how to apply available on The Arch Company websitehere.
The Arch Company became responsible for these spaces in 2019, after purchasing 5,200 spaces from Network Rail. At the point of sale, 1,400 spaces were left vacant, and require significant investment and development before they will be suitable for occupation.
Customer applications will be considered this summer. For more information about spaces to let in Tonbridge, please register your interest here https://www.thearchco.com/register-your-interest-1-7-railway-approach-tonbridge/