Anchor tenant is latest retailer to commit to be part of future vision for Royal Victoria Place
Fenwick, the UK’s largest family-owned department store group, has reaffirmed its long-term commitment to Tunbridge Wells after agreeing a lease extension with Tunbridge Wells Borough Council that will keep the retailer at Royal Victoria Place (RVP) until 2037.
The agreement secures the future of the much-loved store in the heart of the town centre and reflects Fenwick’s confidence in Tunbridge Wells as a strong retail location. It follows the group’s improved financial performance in 2024, demonstrating resilience and positive momentum despite wider sector challenges.
Confidence in the Town Centre’s Future
Fenwick’s decision to renew its lease was significantly influenced by the improvements made to Royal Victoria Place since the Council acquired the centre, supported by RivingtonHark as Asset and Development Managers. The retailer also welcomes the Council’s emerging development proposals, which aim to strengthen Tunbridge Wells’ position as a leading shopping destination in the South East.
Tunbridge Wells is one of Fenwick’s eight UK locations, alongside its Newcastle flagship and stores in Kingston, Brent Cross, Colchester, Canterbury, Bracknell and York.
A Key Anchor for the Centre
The Tunbridge Wells store continues to play an important role in Fenwick’s national portfolio, serving customers across Kent and Sussex with a curated fashion, beauty, home and gifting offer. The Terrace remains a thriving dining destination within the store, supported by services including personal shopping, concierge and an extensive beauty offering.
Leadership Commentary
Hugo Fenwick, Retail Managing Director at Fenwick, said: “We’re delighted to be renewing our store lease in Tunbridge Wells until 2037. 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.”
Council Response
Councillor Justine Rutland, Cabinet Member for Economic Development, Tunbridge Wells Borough Council, 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.”
She added that the Council continues to engage with tenants and the public on proposals for the next phase of RVP’s future, including plans for Palm Court, Ely Court and Market Square.
Lee Colyer, Director of Finance, Policy and Development at Tunbridge Wells Borough Council, 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.”
