Contentious Orpington Walnuts resi plans to be halved
Redcliff Cap, formerly Areli Finance, is in talks with Bromley Council to develop a new masterplan for the Walnuts Shopping Centre which could halve the number of homes included in a previously proposed scheme.
Areli filed plans in 2021 to build two towers of 19 and 24 storeys, with a series of low-rise buildings of between two and nine storeys, on the site.
The plans proposed 990 homes but were withdrawn owing to “issues raised by the local community” in October 2022.
Redcliff Cap, formerly Areli Finance, is in talks with Bromley Council to develop a new masterplan for the Walnuts Shopping Centre which could halve the number of homes included in a previously proposed scheme.
Areli filed plans in 2021 to build two towers of 19 and 24 storeys, with a series of low-rise buildings of between two and nine storeys, on the site.
The plans proposed 990 homes but were withdrawn owing to “issues raised by the local community” in October 2022.
The application received 2,500 objections over the scale of the development and the potential strain it could place on local services.
Redcliff is now considering providing half the originally proposed number of homes as well as weighing up alternative uses for the site. It is engaging with the council and has not yet submitted updated plans for the scheme. The company will begin a local consultation over the next 12 months.
The Walnuts Shopping Centre was acquired by Areli and Tikehau Capital from Patrizia in 2019 for £30m at an 8% net initial yield.
Areli had also appointed Knight Frank in March 2023 to market Crown House in Orpington, a 71,149 sq ft retail and leisure scheme which is part of the wider Walnuts Shopping Centre, for offers over £13m.
The site was subsequently relaunched for sale for £10.5m in October 2023. However, it has now been withdrawn from the market and Knight Frank is no longer appointed.
View planning applications in Orpington >>
Photo © Areli
