Rockspring Property Investment Managers LLP (“Rockspring”), on behalf of UK Value 2 LP (“UK Value 2” or the “Fund”) has let the final restaurant unit in the new Crown House redevelopment at Walnuts Shopping Centre to Nandos.
In addition, the new 63 bedroom Premier Inn opened in August further enhancing the centre’s service offering.
The lease to Nandos follows another recently completed letting by Rockspring to Creams, an ice cream café, which has opened opposite the entrance to the new seven screen Odeon cinema and complements the other restaurants on site, Deans Diner and Bella Italia.
Nandos is expected to open in December 2016 following the completion of a £1 million fit out.Acquired by the Fund in November 2015, Walnuts Shopping Centre is located in Orpington town centre and provides 205,000 sq ft of retail and leisure space, as well as the brand new 22,800 sq ft Premier Inn.
The retail offering includes leading national British brands such as Peacocks, New Look, Argos, The Works and The Entertainer. The addition of the high spec, 61,450 sq ft leisure extension and hotel has turned the centre into a major mixed use destination, and is playing a key role in the regeneration of the town centre.
Rockspring has received planning consent for the refurbishment of the common parts and entrances to the shopping centre to further improve the profile of Walnuts and enhance the leisure and shopping experience. Simultaneously, the London Borough of Bromley have commenced an investment programme to improve the public realm and the market square which fronts onto Walnuts.
Shaun Hose, Asset Manager at Rockspring commented:“Nandos is an important letting for the Walnuts and is testament to both the strength of the shopping centre’s location and the new leisure offering. We now have a cinema, gym and hotel, as well as restaurants and cafés, bringing both leisure and hotel elements to the shopping centre - therefore increasing visits and dwell time, which has seen our footfall increase dramatically as a result. We look forward to working with Nandos and engaging with new occupiers who wish to sit alongside the great names Walnuts already has."