More than 50 firms on Medway City Estate will have to relocate after it was revealed a large business centre will close at the end of June.

Medway Enterprise Centre will close permanently on Thursday, June 30.

Management company Rivalslot Ltd wrote to the businesses based there informing them of the closure.

The centre was built after the closure of Chatham dockyard to help regenerate and bring jobs to the Towns. At present, there are 55 businesses operating from the site and it has 50 vacant units. Some firms have been based there for more than two decades.

Rivalslot, based in Swansea, said it was no longer sustainable to keep the centre open.

It said the lift was in urgent need of moderation and repair, but the cost would exceed £80,000.

Rivalslot’s letter to the firms based at the site says the lift’s age means it might not be possible to get the spare parts needed to repair it, in which case a complete renewal would be needed, which could exceed £120,000.

"Many small and medium businesses utilise this space and have been successfully operating from there for years..." - Medway Council

It adds: “However, funds are being made available to cover the cost of the continue operation of Medway Enterprise Centre until June 30 in order to provide time for alternative accommodation to be found.”

Businesses based there include Masterpiece Wines and Ian Booth Photography.

A Medway Council spokesman said: “It’s a real shame that the Medway Enterprise Centre is closing.

"Many small and medium businesses utilise this space and have been successfully operating from there for years.

"Some of the businesses affected have been in touch, and the council will help them find alternative premises in Medway.”