BTF Partnership is advising the landowner of the 30-acre greenbelt site now approved for the new Kingstanding Way business park on the outskirts of Tunbridge Wells. The successful promotion of this site through the planning process with U+I, will now see this land transformed into 800,000 sq ft of much needed warehouse and office accommodation, which will be set in a parkland landscape.
The land is sandwiched between the existing Kingstanding Way Industrial Area and the new A21 dualling and demonstrates the importance for landowners to have a plan for land which has had significant changes taking place around it and the best option agreements in place with those promoting it.
Tom French at BTF Partnership comments: “I have been advising the landowner for a number of years and this site is around 300m from the new A21 dualling. Whilst the compulsory acquisition of some of our client’s land, by Highways England, created additional challenges to bring the site forward, in conjunction with U + I we worked through those challenges and successfully demonstrated that even land with Green Belt and Area of Outstanding Natural Beauty status, has potential. It is important for landowners to consider the long-term prospects for their land, particularly when located near to major road infrastructure. With many sites coming forward for residential development, there is an ever-increasing demand for warehouse and distribution sites, which can achieve similar land values.”
The sale of the land will now take place and once completed, it is estimated the new business park will create around 4,000 new jobs and will help to stimulate economic growth in the area with excellent road connectivity to the rest of the region.
Kingstanding’s current owner R S Bowie comments: “Tom had the foresight to negotiate excellent commercial terms back in 2013; was tenacious through his negotiations against Highways England and the A21 road widening scheme and I’m certain he will look after my best interests when it comes to the sale of this site.”
If you would like to discuss the long-term potential for your land please get in touch with Tom French, Director at BTF Partnership.