The Arlington car park will be reopened following lease negotiations with Dreamland investors

Arrowgrass has aquired the Arlington estate leasehold

The Arlington car park will be renovated and reopened.

An agreement will see Sands Heritage Limited, which operates Dreamland Margate, invest over the coming weeks to renovate the 400-space Arlington car park.

Leaseholders The Freshwater Group and Dreamland Margate investors Arrowgrass Capital Partners LLP have also reached agreement on an option for sale of Freshwater’s leasehold interest in Arlington Estates.

The Freshwater Group has a long-term leasehold interest in the estate. Arrowgrass, which has injected £25million into Dreamland, is in negotiations to acquire that interest.

Steven Mitchell, CEO at Dreamland Margate, said: “When our park reopens on 26 May, we will be offering a host of restored vintage rides, an unparalleled range of top quality bars and street food, and an eclectic range of events throughout the year. We are delighted to be able to complement all of that by offering our customers another parking option, making the whole day a stress-free experience.

“As well as being adjacent to Dreamland, the new car park is close to many of the other fantastic things Margate has to offer, so it will be ideal for anyone visiting the town by car.

“The increasing number of visitors to the town in recent years is extremely positive for local people and businesses, but we are aware that the limited public parking has been a problem, especially during the summer. The agreement we have reached with The Freshwater Group will enable us to significantly improve the situation.”