Canbury Place car park to be sold for an estimated £12.6m
Councillors have agreed to sell Canbury Place car park to support the regeneration of North Kingston.
The open-air car park, owned by Kingston Council, was identified as a key site within the North Kingston Development Brief, approved by councillors in October 2016.
An inefficiently used and under performing part of Kingston Town Centre, the North Kingston Development Brief sets out the principles and framework to unlock this development area in a responsive, comprehensive and integrated way.
With Kingsgate Road and the former Kingsgate Business Centre also earmarked for redevelopment, the sale of Canbury Place car park gives the council an opportunity to take a holistic view across all three sites.
Leader of Kingston Council, Councillor Kevin Davis, said:
“We have been handed a unique opportunity to work with the adjacent site owner to bring about the type of wholescale regeneration envisaged for this part of Kingston Town Centre.
"The integration of Canbury Place within a more comprehensive plan for the area will help deliver the type of homes and infrastructure that respond to the needs of our growing population."
Councillors resolved to sell the car park through the granting of a 250 year lease, valued at an estimated £12.6 million.