A REGENERATION scheme is hoped to bring £220 million into Bromley over the next decade.

The project will create around 220 jobs in the area and will include a 130-bedroom hotel, a nine-screen cinema and 25,000 square foot of restaurant space.

Hermes Real Estate Management Limited (HREIML) has committed £55 million to the initiative and will partner with property developer Cathedral Group to create a new hub comprising entertainment, leisure and residential accommodation.

In addition the Bromley South Central Scheme will offer 200 new apartments as well as a modern 400 space underground car park.

The initiative has also been backed by the Greater London Authority and the Homes and Communities Agency.

Work started on the site last month and is scheduled to finish in April 2015.

Leader of Bromley Council Councillor Stephen Carr said: “This should send a strong signal to the market that there are compelling investment opportunities in Bromley and we are enormously pleased to be working with Cathedral Group on this scheme. 

"We are also in discussions with the Mayor of London and TfL about bringing DLR to Bromley, further enhancing the appeal.”