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Council spends £7m to acquire long lease on Maidstone House

Maidstone Borough Council has acquired a 199-year lease over Maidstone House and the adjoining Link building from the owners of the Mall shopping centre, Capital and Regional.

The council already occupies three of the seven floors of Maidstone House, the 1970s-built office block behind King Street, and delivers direct customer services from the glass-fronted Link, which faces onto King Street, previously known as the Gateway.

Maidstone House (54323335)
Maidstone House (54323335)
The Link building in King Street
The Link building in King Street

The borough says the purchase will ultimately reduce costs and give it greater flexibility over how it uses the space, while bringing in an income from letting the unused office space.

A spokesman said that ownership of the prime site in the town centre supported the council’s objective to make Maidstone a thriving place, by giving it the opportunity to invest in the building to continue to develop the facilities they offer.

The building already houses the council's Business Terrace, which provides flexible workspace and support to new and growing businesses.

Council leader Cllr David Burton said: “I am really pleased that we have managed to purchase Maidstone House, which means we will no longer have to pay rent on the building, saving Council Tax-payers considerable amounts over the long term.

“At a time when organisations are rethinking their requirements for office space, ownership of Maidstone House will allow the council the flexibility to adapt and meet its requirements, as well as offering space to other local businesses on very flexible terms.

“We will continue to work closely with the Mall owners and we believe that the combination of a comprehensive retail offering, modern offices, and a Council and Job Centre Customer Service Centre at the Link will provide a great way of helping the town centre to build back better from the Covid-19 pandemic.”

Cllr David Burton, leader of Maidstone council
Cllr David Burton, leader of Maidstone council

The council paid £7.07 million for the lease.

Funding for the purchase comes from a combination of reserves and a Public Works Loan.

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