The Malaysian consortium that has purchased Battersea power station has unveiled plans for its redevelopment.
Consisting of SP Setia, Malaysia’s Employees Provident Fund and Sime Darby, the consortium acquired the power station in a deal worth Â£400 million.
The group, which has been granted planning permission to construct a mix of residential property and office space, revealed that the redevelopment will feature around 3,500 homes and 160,000 sq metres of London office space.
Commenting on the consortium’s plans, SP Setia’s president and chief executive, Liew Kee Sin, stated: “Battersea power station is a wonderful building and both it and the centrally located Nine Elms area surrounding it are in need of regeneration.
“As property developers, we are very proud to be part of the team that will bring them back to life and ensure they are preserved for future generations. With the sale now complete, we can move forward with our vision to build a vibrant, accessible and functional town centre for the Vauxhall, Nine Elms, Battersea area with the power station at its heart, creating up to 26,000 new jobs in the process,” he concluded.
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