News MBC acquires lease of Maidstone House

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

The Council already occupies three floors of Maidstone House, based in King Street, and delivers customer services from the Link, so the acquisition allows the Council to reduce its occupancy costs and gives it greater flexibility over how it uses the space.  Ownership of this key site in the town centre supports the Council’s objective to make Maidstone a thriving place, by giving it the opportunity to invest in Maidstone House and the Link and continue developing the facilities they offer.

The building is already home to MBC’s Business Terrace, which offers flexible workspace and support to new and growing businesses.  Acquiring the building will allow the Council to continue developing this and complementary facilities.

MBC Leader, Councillor 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.

MBC 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.

Maidstone Borough Council paid £7.07 million for the lease in line with approval granted by the Council’s Policy and Resources Committee.  Funding for the purchase comes from the Council’s internal resources and Public Works Loan Board borrowing.

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