Maidstone Borough Council purchases Lockmeadow leisure park
Maidstone Borough Council, advised by ESH, has purchased the long leasehold interest of the Lockmeadow multi-let leisure park in Maidstone.
The 141,329 sq ft park is anchored by an Odeon cinema. Other tenants include Hollywood Bowl, David Lloyd, Gravity Fitness, Greene King, Frankie & Benny’s and Gourmet Burger Kitchen. Odeon has extended its lease to 15 years term certain alongside the council’s purchase.
Mark Green, MBC director of finance and business improvement said: “Maidstone Borough Council is delighted to be taking on the lease of Lockmeadow which we consider is an integral part of the visitor destination to our County Town.
“We see that the complex plays a huge contribution to the Maidstone economy, and plan to manage it effectively to ensure it is a key destination for residents and visitors which will encourage them to go there and spend quality leisure time with their family and friends.
“By investing in the site, we will generate a financial return, which is in line with our commercial investment strategy. In addition, taking control of a centrally located site, that plays a key role in Maidstone’s leisure offer to visitors, will help the Council realise its priority of making the borough a Thriving Place.”
The council was represented by ESH. Savills advised the vendor.
