Sale of Tunbridge Wells depot means buses can depart…

    St Johns Road Bus Depot

    The Arriva bus depot on St Johns Road, Tunbridge Wells, has been sold to an undisclosed buyer, six months after it was put on the market, the Times can reveal.

    The sale, on provision of a leaseback, will allow the bus operator to complete its plans for a strategic relocation to a different site.

    It is understood the company has considered moving to the North Farm industrial estate in the past.

    The estate agent behind the sale, Durlings , previously told the Times in January that the lease-back is likely to last for 18 months, with flexibility for an extension.

    Although the name of the purchaser has not been disclosed, the estate agent said the company was a ‘residential developer’.

    Durlings received some 30 proposals for the site, the majority of interest being to develop it for residential use.

    Rupert Farrant of Durlings said: “Given its prime location in the town, it has been the focus of a lot of attention.

    “I am pleased that we have been able to help Arriva manage their corporate requirements to maximise the sale receipt and to assist with their relocation, and to have done so within a relatively short time-frame.

    Alasdair Baird, Group Property Project Manager at Arriva praised Durlings for their management of a ‘complex’ bidding process, adding: “Their diligent approach has enabled us to keep to the timetable we needed as a business and to achieve the best outcome for the site. It has also allowed us time to progress our planned relocation.”