Altitude has acquired a development site in Tunbridge Wells, Kent, for a £90m mixed-use regeneration scheme.
The land next to Tunbridge Wells railway station was bought from Carlyle Group for around £9m and has been derelict since the ABC Cinema closed in 2001.
Altitude is planning a 250,000 sq ft scheme.
The site previously had planning permission for shops, restaurants, offices and a hotel, but the plans were never implemented and consent lapsed.
Altitude will submit new plans this summer. Construction is scheduled to start in 18 months, subject to consent.
Director Nigel Robson said: “This acquisition supports the strategy of acquiring prime development sites that have excellent connectivity and are located in areas with strong socio-demographics.”
Altitude has also acquired West Byfleet district centre in Surrey for £10m from BP Pension Fund, where it plans a similar development.
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