A full council meeting has approved huge spending on a rebuild of the Palm Court area in the main Tunbridge Wells shopping centre, which supporters believe will be “self-funding.”
The vote in favour of taking on a debt of £23 million to be repaid over 50 years was overwhelming, but one opponent afterwards called the vote “scary.”
The vote saw 26 in favour with just 2 against and 5 abstentions. The Liberal Democrats who dominate the council said the scheme would drive up footfall and argued that new shopping centre income would cover the borrowing costs.
Of the 22 Liberal Democrats who attended, 21 supported the plan with Cllr David Osborne being the only Lib Dem to abstain. Cllr Osborne argued for a delay to consider the whole scheme together, including plans for a further £20 million of debt to build a boutique cinema due to be approved in April.
One resident, James Tansley, went along to the meeting to make the case against. He said: “Anyone with an understanding of finance will conclude that the assumptions behind the business plan go beyond the merely fanciful into the realms of the totally delusional.”
The Palm Court area plans (shown above) involve a new roof and new toilets, but around half the spending is remodeling the lower floors to create a roof over the lower basement area, which was the food court.
The plan is to let out this new basement area for £ 12 /sq foot x 18,000 sq feet to bring in £ 216,000pa. But the council is forecasting £ 1.8 million of increased revenue per year, mainly thanks to a “halo” effect of higher rents throughout the RVP (and more parking revenue) due to smartening up the Palm Court area.
A £ 23.3 million loan will be needed. The council says this will create a bill of £ 1.5 million a year in interest and repayments, assuming a 6% interest rate, allowing the council to forecast £ 315,000 profit every year from the Palm Court Scheme.
After the meeting, Ben Chapelard the Liberal Democrat council leader declined to talk to Southborough News. He told residents to watch his speech on the council website online:
https://democracy.tunbridgewells.gov.uk/ieListDocuments.aspx?CId=134&MId=6061
https://democracy.tunbridgewells.gov.uk/ieListDocuments.aspx?CId=134&MId=6061
But Matthew Sankey of the Tunbridge Wells Alliance did agree to talk afterwards about his clear support for the £23 million debt the council is taking on to finance the rebuilding, which he sees as vital.
On the other hand, Dianne Hill of Labour said it was “scary” that so much debt was being taken on with many residents still unaware of the details.
Listen to what they had to say:
https://youtube.com/shorts/H7a8N17Io6A
Their comments are here in full:
MATTHEW SANKEY: “If we don’t spend this kind of money, the shopping centre, or that part of the shopping centre in particular, is going to fall into disrepair. It’s going to “wither on the vine”, as I think a number of people said. It was clear we would have to make this kind of investment when we purchased the long lease to add to our freehold, and that hasn’t changed.
QUESTION: And do you think every single element of it, for example, creating this basement, which apparently is about half the cost of it, for an unknown leisure operator? Isn’t that the riskiest part of it?
MATTHEW SANKEY: No, being a part of the IAP (as councillors), we’re privy to a lot of the information, and it’s absolutely key to it. Bringing in leisure operators – of the calibre that we are – is key.
QUESTION: And can you give residents any clue as to what it might be?
MATTHEW SANKEY: Sadly, due to commercial reasons – and I hate not telling people what’s really going on – but due to commercial reasons, it’s not right for me to state that now. That could scupper the entire thing.
QUESTION: And the list of financial benefits included £300,000 of extra car parking fees (per year). I mean, should that have been part of the consideration, which is enough, to be the difference between making it profitable and making a loss?
MATTHEW SANKEY: Yeah, because the additional footfall alone, generates much of that. I disagree with Tom Dawlings (Conservative) when you say it’s just the increase in fees. I think he’s cleverly worded that. The increase in footfall alone is significant, but we have to look at the wider economic benefits that this project, and the other ones around it are going to bring.
Pictured below is Dianne Hill of Labour, who made the following comments:
QUESTION: Dianne, you were just one of two votes against this borrowing. Why did you decide NOT to vote for taking out this loan?
DIANNE HILL: Well, actually, I spoke to residents. I spoke to lots of people, and the majority of them told me they didn’t think it was a good idea. I mean, I don’t think anyone’s saying “do nothing”. We all want to see a thriving Tunbridge Wells and a thriving town, which I think with Primark coming into the town, it has done this.
But the cost is huge and people at the moment are struggling. You’ve got a cost of living crisis. Student loans. I mean, you know, they’re through the roof, aren’t they? You know, and let’s add another debt onto them. So if we get leisure in there, who can afford it, I don’t know?
QUESTION: Do you think people have been voting for the Liberal Democrats on the basis of this?
DIANNE HILL: No.
QUESTION: Why have they been voting for them then?
DIANNE HILL: Well they don’t like the Tories, and we’re not really a Labour town, are we? So the Lib Dems are sort of in between.
QUESTION: So do you think the residents realise that we are heading for this large debt?
DIANNE HILL: I don’t think a lot of them know. I really don’t. It’s a little bit scary, actually.
Among the other 2 Labour members, one supported the plans (Hugo Pound) and one abstained (Jayne Sharratt).
Three of the 6 Conservatives were in support (Lynne Darrah, Tom Dawlings and Andy Fairweather), with three abstaining (Tom Mobbs, Beverley Palmer and Alexander Ellison).
David Hayward of the Independents for Tunbridge Wells party voted against, but didn’t speak at the meeting or afterwards.
For more details of why the council believes its borrowing will be self-financing, read the following stories:
https://southborough-news.com/2026/10/23/tunbridge-wells-council-explains-23-million-loan-for-shopping-centre-revamp/
Read why a former council leader said the borrowing scheme will “fail”:
https://southborough-news.com/2026/10/30/former-council-leader-says-rvp-debt-planlikely-to-fail-as-council-denies-it-misled-meeting/
Despite a rise in footfall and the arrival of Primark, the RVP shopping centre cost council tax payers £79,000 last year . The council bought the RVP lease for £9 million three years ago from a private firm.
