Areli eyes retail-to-resi at the Walnuts

Areli Real Estate is exploring plans to turn the Walnuts Shopping Centre in Orpington into a residential-led scheme of 1,000 homes. The investor has proposed a development of around 1,076,000 sq ft on the 7.4-acre south London site. Plans would see two towers of 19 and 24 storeys, with a series of low-rise buildings of between two and nine storeys. Areli has brought on architect JTP to work up plans for a mixed-use scheme including retail, leisure and office development. It intends to lodge a planning application later this year. The change of use is the latest in a flurry of plans seeking to turn old shopping centres in outer London and commuter areas into flats. In the past year, investors including Crosstree and InfraRed have progressed substantial plans seeking mixed-tenure schemes, boosted by ongoing demand for build-to-rent assets in well-connected locations.   To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette Photo by Areli Real Estate