Joseph Mccarthy Mirror & Frame Makers, The Pantiles Coach House, London Road, Royal Tunbridge Wells, Kent

A rare opportunity to acquire a high-performing income asset with transformational development potential in the cultural heart of Royal Tunbridge Wells.

Positioned directly beside the iconic Pantiles colonnade and opposite Dandara's landmark Potteries scheme, this 4-acre car park currently generates £110,000 per annum (post-profit share) under a management agreement with RCP, plus an additional £18,000 from wayleaves and easements. With 170 marked spaces and consistent demand, it offers immediate income security.

But the true value lies in its future. Initial design studies suggest capacity for around 104 luxury apartments and 285 parking spaces, with a projected GDV of approximately £60 million and a residual site value of c.£10 million. A strategic land exchange with a comparable 2-acre parcel at Still Green, Rusthall Common (held freehold but not designated as Common Land), offers a unique route to deregister the site and unlock planning potential.

With precedent set by nearby premium developments achieving £600 psf and penthouses nearing £1 million, this is a once-in-a-generation chance to reimagine a central Tunbridge Wells site into a flagship residential address.

Also available - The Tunbridge Wells and Rusthall Commons (Search for the separate listing)
Available individually or as a combined acquisition, the Commons and Car Park offer a rare chance to secure both long-term income and prime redevelopment potential in the heart of Royal Tunbridge Wells.