A CONSORTIUM, which includes a Middle Eastern investment group, plans to spend £30m developing The Walnuts after buying the shopping centre.
As well as buying the site the group has already bought Crown House, an adjoining vacant former job centre, in Orpington.
It plans to turn build 60,000 sq ft of new retail space on the old job centre site to attract new retailers to the town.
The consortium is made up of Miller Developments, Ellandi and a Middle Eastern investment group advised by Kuwaiti-backed, UK based company WW Advisors.
Miller Developments chief executive Phil Miller said: “This deal presented the perfect opportunity for our continuing return to in-town shopping centre development. “We are pleased to be working with WW Advisors and Ellandi on a project which allows us to use our core retail development skills, and at the same time secure an attractive investment opportunity.”
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