Fenwick, the UK’s largest family-owned department store group, has agreed terms with Tunbridge Wells Borough Council to remain at its current site in Royal Victoria Place. The move secures the future of the store in the heart of Tunbridge Wells town centre.
The lease extension reflects Fenwick’s confidence in the Tunbridge Wells location and commitment to local community investment. This follows Fenwick’s improved 2024 financial results, which demonstrated positive momentum despite challenging conditions across the retail sector.
The significant improvements to Royal Victoria Place since Tunbridge Wells Borough Council acquired the centre, supported by RivingtonHark as Asset and Development Managers, was a key factor in the re-leasing decision for Fenwick. The department store also welcomes the Council’s emerging development plans for the centre, which promise to strengthen Tunbridge Wells’ position as a leading shopping destination in the South East.
Tunbridge Wells is one of Fenwick’s eight locations across the UK, including its Newcastle flagship, along with stores in Kingston, Brent Cross, Colchester, Canterbury, Bracknell and York.
Hugo Fenwick, retail managing director at Fenwick, said: “We’re delighted to be renewing our store lease in Tunbridge Wells. This decision reflects not only our confidence in the town as a thriving retail destination, but also our commitment to the local community we’ve been proud to serve since 1992. Both the improvements we’ve seen at Royal Victoria Place together with the Council’s ambitious plans for the Centre gives us considerable optimism for the future.”
Katherine Farish, Store Manager at Fenwick Tunbridge Wells, said: “Our customers are at the heart of everything we do, and this commitment to Royal Victoria Place means we can continue to serve the local community for years to come. Despite the challenging times for the retail sector, we’ve seen such positive momentum in recent months, and the improvements to the centre have created a much better experience for customers. Our team is committed to Tunbridge Wells’ retail future and we look forward to welcoming both existing and new customers through our doors.”
Councillor Justine Rutland, Tunbridge Wells Borough Council Cabinet member for Economic Development, said: “Fenwick is one of the UK’s most renowned department stores, and its presence in Royal Victoria Place has always been very important to the vibrancy and success of the centre. Consistently recognised in our recent engagement exercise as a much-loved RVP retailer, Fenwick is viewed positively by residents, visitors and businesses alike, and remains a key draw to the town and wider borough. We are delighted that Fenwick will be staying in Tunbridge Wells for at least the next decade, supporting our strategy to create a flourishing town centre that works for all.
“As part of that work, we have also been engaging with tenants and the public on the next stage of RVP’s future through the development proposals for the other end of the centre at Palm Court, Ely Court and Market Square.”
Lee Colyer, Tunbridge Wells Borough Council Director of Finance, Policy and Development, said: “We are fortunate to have a retailer of the calibre of Fenwick within our town centre and one that is importantly the anchor tenant of Royal Victora Place. One of the core objectives following acquisition of RVP was to stabilise the asset and retain key tenants. We have been engaging and listening to the improvements that Fenwick would like to see and have been working to achieve them.
“It is a huge vote of confidence that Fenwick is committing to RVP. It is also reassuring that Fenwick has been impressed with the turnaround that we have delivered for RVP with footfall up 340,000 and occupancy now at 95 per cent.”
The Tunbridge Wells store remains a vital part of Fenwick’s portfolio and continues to serve customers across Kent and Sussex with its curated offering of fashion, beauty, home and gifting. The Terrace thrives as an in-store dining destination and services on offer include personal shopping, concierge and beauty services across the beauty hall.
