The Lower Pantiles has been sold

Having been in negotiations for over a year, the Marquess of Abergavenny completed on buying the Lower Pantiles last week.

An undisclosed sum was paid; the original estate agent's guide price was £4.5 million. Strutt & Parker acted on behalf of the vendor.

The purchased area includes shops, offices and flats on The Lower Pantiles, Royal Victoria House, the Corn Exchange, the Auction House and car park, Sussex Mews and three substantial modern office buildings.

The Upper Pantiles is owned by Targetfollow (Pantiles) Ltd, the privately-owned Norwich-based property investor and developer. The area was owned by the Nevill family until 1939. The location of The Pantiles is adjacent to the Marquess' and the Nevill family home of Eridge Park.

The newly-formed management company, Lower Pantiles LLP, has yet to release any plans for the new acquisition.

A hands-on approach is expected from a management company that has a thorough understanding and respect of the history and uniqueness of The Pantiles, its history and architecture.

As President of The Royal Tunbridge Wells Civic Society, a former District Councillor and Patron of Spa Valley Railway, The Marquess of Abergavenny clearly has local interests to heart and can be expected to be a safe pair of hands for the site.

He's keen to work with the community, the owners of the Upper Pantiles and specifically the Association of Pantiles Traders, recognising the efforts they have made to bring new life to the area with their calendar of events.

"Historically my family has links with the Lower Pantiles. The area has huge potential but has to be handled sensitively; this is more a case of evolutionary than revolutionary change," says The Marquess of Abergavenny.

"There are challenges, especially with regards to how we can fully utilise The Corn Exchange. Nothing has been ruled out and it is time we got this space working again."

Good to hear - we're looking forward to see what plans unfold, specifically for the Corn Exchange. Rumours are always circulating that it'll be a digital cinema of some kind (think Kino in Hawkhurst) or some sort of arts centre. What would you like to see happen in this part of town?