Why buy Tunbridge Wells property?

It’s easy to think that great connectivity to London is the main economic benefit of living in Tunbridge Wells. It’s easy and convenient to live in the town and work in the capital city.

However, Tunbridge Wells has a strong and growing economy of its own, offering high quality employment for residents. It’s home to multi-national companies, and there are extensive regeneration projects which are making the town an even better place to live - not to mention beautiful green spaces which make the town a healthy, vibrant place. 

A strong and growing economy

Tunbridge Wells is at the heart of the West Kent economic area and is home to more than half the regional population. That makes it an important economic centre performs well according to figures from Invest West Kent:

• £15bn GDP
• £64,333 GVA average per job
• 19,000 businesses
• 11 million visitors per year
• Just 2.2% unemployment

This is a wealthy area where the economy is strong. Jobs are of a high quality in the West Kent region, and unemployment is low. Tunbridge Wells is at the heart of it all and is the driver for the region.

Even better, the economy is still growing. The latest data from the Office for National Statistics shows that the employment rate in Tunbridge Wells is growing annually and is higher than the average for the whole South East of England.

As companies look for office space outside of London, Tunbridge Wells is perfectly located to offer an alternative location alongside big companies that are already located in the town, including AXA, Markerstudy, Logistics UK, Cripps Pemberton Greenish, Southpaw, Ginger May and many more.

Regeneration

Regeneration

In many ways, Tunbridge Wells is already an idyllic home that offers everything people want and more – but there’s always room for improvement. The town’s ongoing regeneration plans prove that and are sure to make this an even more desirable location for both people and businesses in the future.

The biggest change to Tunbridge Wells in a generation is underway as the Town Centre Plan 2040 takes shape. In the next 15 years, the Plan seeks to transform the historic spa town with:

• New spaces for markets and cultural events
• Multi-functional spaces for the day and night time economy
• More tree planting to enhance biodiversity
• Art, walking and audio trails
• New play spaces for families
• Redevelopment of underused commercial buildings
• Improved public walking and cycling paths
• Electric vehicle charging points
• Cycle storage facilities

…and much more that will go to towards making the town an even more desirable place to live, a more efficient home for businesses, and a more attractive tourist destination.

The Royal Victoria Place Shopping Centre in the heart of Tunbridge Wells was recently bought by the Borough Council for more than £8m. They have moved quickly to put a regeneration plan in place that will upgrade the centre, and the town along with it.

The key objectives are:

• To fill empty shopping units
• Re-establish a food court area
• Improve leisure facilities.

Both of these major projects are sure to have a positive impact on the local property market. There is already a shortage of high quality, luxury homes in the town centre that offers investors and owner-occupiers a great opportunity to earn capital appreciation.

With the new regeneration plans, this type of property will only get more popular in the future – pushing up both house prices and rents. That makes this an ideal time to buy property in Tunbridge Wells and get ahead of the curve.

Want to learn more about property for sale in Tunbridge Wells? Contact our team today and be the first to hear about new investment opportunities in the town.