The partnership agreement with Tunbridge Wells Borough Council will regenerate four Kent towns – Royal Tunbridge Wells, Cranbrook, Paddock Wood and Southborough.

The 50/50 partnership will see the Council and John Laing working together to bring forward civic, retail, commercial, community or residential property opportunities by redeveloping or regenerating assets currently within the Council’s portfolio, ensuring satisfaction of the Council’s obligations to achieve best value consideration. 

Upon completion each development will either be sold, or retained within the partnership to provide an income stream, dependent on prevailing market conditions.  All profits will be shared 50/50 between the Council and John Laing.

The partnership is one of the first Local Authority Asset Backed Vehicles to be established in the UK and will be called the Tunbridge Wells Regeneration Company Limited.  It will last for (an initial) ten years. 

Under the partnership John Laing will also provide masterplan services for the four towns to ensure an holistic approach to development and regeneration.