Arriva Southern Counties has sold its St Johns Road depot in Tunbridge Wells.
The sale is on provision of a leaseback, which will allow the business to continue using the site for up to 18 months while it plans for a strategic relocation. The operator’s services in the area will continue to run.
The 1.32-acre site, comprising two adjoining high bay industrial buildings and interconnecting offices, was offered to the market by Durlings in January this year. It has now been sold to an undisclosed residential developer.
As would be expected, given the size of the site and its proximity to the town centre, along with good road links to the A21 and the M25, there was significant interest from prospective purchasers.
Durlings received some 30 proposals for the site, the majority of interest being to develop it for residential use. All of the bids had to be reviewed and managed, and a purchaser was nominated as the preferred bidder, with the sale taking effect within 31 working days.
The depot is currently home to 57 vehicles and dates back to the 1920s.
Arriva Marketing Manager Richard Lewis told CBW: “I can confirm that our depot in St. John’s Road at Tunbridge Wells has been sold on a lease-back basis and will be vacated by October 1, 2017.
“The existing two-level depot building, that dates back to the 1920s, requires a lot of maintenance and its layout is not efficient for 21st century operation. We are in the process of negotiating a new site in the Tunbridge Wells area which will be more fit for purpose for current operating conditions.”
“This was a great site to be instructed on,” commented Rupert Farrant of Durlings. “Given its prime location in the town, it has been the focus of a lot of attention. I’m pleased that we’ve been able to help Arriva manage their corporate requirements to maximise the sale receipt and to assist with their relocation, and to have done so within a relatively short time-frame.”
