£90m Bromley redevelopment approved
A massive transformation for Bromley town centre is set to get underway following approval for new £90 million plans for the area.
Property fund manager Hermes Real Estate Investment Management Limited (HREIML) has now seen work begin in earnest on the redevelopment of the city centre, with developer McLaren Construction being contracted by site overseer Cathedral Group.
The project aims to deliver a major regeneration to the heart of Bromley and is being supported by the Homes and Communities Agency's (HCA) Get Britain Building fund.
It is hoped that this significant investment in the area will deliver considerable returns over the years to come, with the project including the creation of a new 130-bedroom hotel, a nine-screen multiplex cinema, up to 25,000 sq ft of new restaurant and cafe space, as well as up to 200 new apartments and space for a 400-vehicle underground car park.
In addition, new premises are being constructed for a number of popular restaurant chains, including Nandos, Prezzo and Las Iguanas.
The Bromley South Central development is also being backed by the Greater London Authority and aims to deliver a boost to the local economy of up to £220 million over the next ten years.
It is a major undertaking for HREIML, but with the prospect of creating a vibrant, attractive and appealing new city centre for the town it is one that the developer is keen to see carried out to the best of its ability.
The news follows the recent announcement by the HCA of final approval for the construction of new homes in Greyfriars, Gloucestershire.
David Warburton, HCA head of area, said: "The new development will make a huge difference to the city and underpins our commitment to creating thriving places by bringing new homes, jobs and investment to areas which need them."
In total, the scheme will deliver 76 new apartments and 78 townhouses, as well as additional local amenities, including a doctor's surgery, restaurants, office accommodation, bars and new green spaces.
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