Added on: 1st November, 2019 by O1
Tikehau Capital, the alternative asset management and investment group, announces the acquisition for its clients of Orpington's Walnuts Shopping Centre, through its Real Estate Value-Added fund which was launched in 2018.
The Walnuts provides a site totaling over 22,500 sqm, which includes a shopping centre of c. 13,700 sqm with 58 stores, alongside an ODEON cinema and an 83-room Premier-Inn hotel.
The asset is located in the heart of Orpington, 13 miles South East from Central London, on the South Eastern Main Line and connected to a range of Central London stations. The London Borough of Bromley’s strategy to improve Orpington's facilities means there is a potential for redevelopment to enhance this asset.
This is Tikehau Capital’s Real Estate Value-Added fund’s second acquisition in the United Kingdom following the acquisition of the Nicholsons shopping centre in Maidenhead earlier this year.
It is the fund’s sixth investment following a sale & lease back operation, the acquisition of a mixed-use portfolio in Brussels, two hotels located in central Paris, and the partnership with Bouygues Immobilier for the Charenton-Bercy redevelopment project in the Greater Paris area. The pan-European Real Estate Value-Added fund, which was launched in 2018, invests across all Real Estate asset classes.
Tikehau Capital’s Head of Real Estate Frédéric Jariel said: “This second Real Estate deal in the United Kingdom demonstrates Tikehau Capital's strategy to strengthen the development of its activities in the country. This is an important step in the deployment of Tikehau Capital’s Real Estate Value-Added Fund across Europe.”
Areli Real Estate, a UK-based urban regeneration specialist, will work alongside Tikehau Capital as an operating partner, as it did for the acquisition of the Nicholsons Shopping Centre in Maidenhead. This acquisition marks another step in the two companies’ collaboration to implement Tikehau Capital’s Real Estate investment strategy across the UK.
The overall objective is to deliver intelligent, long-term placemaking solutions, working closely with local authorities and their communities.
Areli partner, Andrea Vanni, said: “Orpington is a fantastic town with a great high street and superb transport connections. The Walnuts is right at the heart and an incredibly exciting opportunity to substantially increase both vibrancy and vitality. We look forward to working with the local community and London Borough of Bromley to consider how these aspirations can be achieved.”