This study focuses on the impact of developing iconic cultural centres in deprived areas on the social-economic development of the location and the corporate social responsibility of the cultural centres to the stakeholder groups specifically those of the lower social economic group that can encounter cultural and economic disruption. Corporate social responsibility and sustainability are examined as a means of bringing improvement to the population’s situation and changing the business environment within the environment in which international businesses operate. The case study centres on the Turner Contemporary Margate. A questionnaire survey was utilized in collecting data for the study. A total of 221 participants took part in the research. The findings show that while the Turner Contemporary has changed how Margate is viewed and has been effective in creating a unique synergy between leisure, tourism and attracting cultural customers to the town, there is some doubt as to the overall benefits of the centre in promoting well-being and social and economic benefits for all or providing inclusive and sustainable economic growth. The study has several theoretical and practical implications. It contributes to theoretical development on social responsibility and sustainability. From a practical perspective, the paper makes a vital contribution to research policy initiatives on the impact of art regeneration, and culture-led urban policy.