INDUSTRY NEWS

Battersea plans receive approval

Battersea Power Station’s redevelopment plans have been given first-stage approval by planning officials in Wandsworth Council. The council stated that the project would bring major regeneration to the Nine Elms area, creating thousands of new jobs and accommodation, but that much more work was necessary before it could be given the final go-ahead.

The plans include turning the old power station into a huge mixed-use facility. More than 3,000 new homes have been proposed – 15 percent of which will be affordable housing – 47,000 square metres of retail space and community areas. In addition, the station will become a significant source of new office space in London.

The development will also include hundreds of millions of pounds worth of infrastructure improvements, such as a new tube station.

The developer, Real Estate Opportunities (REO), welcomed the council’s decision, adding that it had already received investor interest and was confident that it could fund the project.