Local authority commercial real estate investment
Case reference FOI2026/01082
Received 6 July 2026
Published 13 July 2026
Request
1. How many properties are in your investment portfolio? Please split into retail, office, industrial, leisure, and other. I am not asking for commercially sensitive information so if you are unable to confirm what the asset is, could you just confirm type e.g. shopping centre or hotel.
1. Please list any property acquisitions in the last five years. As above, I am not asking for commercially sensitive information so if you are unable to confirm what the asset is, could you just confirm type e.g. shopping centre or hotel.
1. Can you please list the reasons the authority invested/acquired these properties?
1. Can you please confirm if there are any other reasons not mentioned above why your authority invests in or acquires commercial property?
1. What were the outcomes of your investments? (For example, did it lead to delivery of a regeneration scheme? Did it bring in income? Did investing lead to a budget deficit? Etc. Please note that this is not asking you to provide commercially sensitive information nor commentary, just list any outcomes).
1. What is the Council's process for identifying investment opportunities? I.e. Do you have an investment strategy?
1. What is the procedure followed by the council when an investment opportunity is identified and how do you manage risk?
1. How does your authority fund commercial property investment/acquisition? Please just list the financing methods used.
Response
1. How many properties are in your investment portfolio? Please split into retail, office, industrial, leisure, and other. I am not asking for commercially sensitive information so if you are unable to confirm what the asset is, could you just confirm type e.g. shopping centre or hotel. Publicly available data can be found here Local Government Transparency Code
1. Please list any property acquisitions in the last five years. As above, I am not asking for commercially sensitive information so if you are unable to confirm what the asset is, could you just confirm type e.g. shopping centre or hotel.
TN2 Community Centre - 2026
Five-bedroom dwelling operating as an HMO; two-bedroom house; four-bedroom house; and freehold block of 3 flats within a subdivided dwelling
Royal Victoria Place Shopping Centre – Long-leasehold Acquired in October 2023. Details can be found on our website:
https://tunbridgewells.gov.uk/business-portal/royal-victoria-place
1. Can you please list the reasons the authority invested/acquired these properties?
· To avoid dilapidation costs at the end of a long lease
· Protect a third-party charity from going insolvent in order to protect services
· Temporary housing needs under the Local Authority Housing Fund Programme
· RVP Shopping Centre – As set out on our RVP pages and FAQs https://tunbridgewells.gov.uk/business-portal/royal-victoria-place/royal-victoria-place-faqs
The Council owns the freehold of Royal Victoria Place shopping centre. In 2023 we bought the lease of the shopping centre to give us greater control over its future. Owning the freehold and the lease gives the Council more opportunity to influence the economic development of Royal Tunbridge Wells town centre and the wider borough. In the long term there is significant added value for the Council in owning both the freehold and the lease; in the short to medium-term it is a commitment by the Council to the town centre and its future prosperity. This is in line with the objectives of the Council’s Strategic Plan.
1. Can you please confirm if there are any other reasons not mentioned above why your authority invests in or acquires commercial property? Commercial returns, boost/protect business rates and create employment
1. What were the outcomes of your investments? (For example, did it lead to delivery of a regeneration scheme? Did it bring in income? Did investing lead to a budget deficit? Etc. Please note that this is not asking you to provide commercially sensitive information nor commentary, just list any outcomes).
· Avoided up to c£200k of dilapidation costs
· Protected ongoing critical services delivered by third parties
· Currently out for consultation on various regeneration opportunities on various sites so work in progress
· Increase portfolio of Council owned temporary accommodation to reduce reliance on use of nightly paid forms of temporary accommodation
· RVP Shopping Centre – please see our website including the Full Council report - Royal Victoria Place - Feasibility Study Report on 16 July 2025. Royal Victoria Place - Feasibility Study Report
1. What is the Council's process for identifying investment opportunities? I.e. Do you have an investment strategy?
· Please see Asset Management Plan Asset Management Plan 2025-26
· Also see the Treasury Management Policy and Strategy 2026/27 (FC, February 2026): https://democracy.tunbridgewells.gov.uk/documents/s82103/Appendix%20A%20Treasury%20Management%20Policy%20Strategy%20202627.pdf
1. What is the procedure followed by the council when an investment opportunity is identified and how do you manage risk? Please see Asset Management Plan Asset Management Plan 2025-26
1. How does your authority fund commercial property investment/acquisition? Please just list the financing methods used.
· Reserves
· Grant funding
Documents
This is Tunbridge Wells Borough Council's response to a freedom of information (FOI) or environmental information regulations (EIR) request.