INDUSTRY NEWS

Minority Stake in Battersea Power Station For Sale

A minority stake in Battersea Power Station is up for sale in order to finance the site’s proposed regeneration project. The derelict building has been the subject of various plans for development since its closure in 1983. The original proposal, set out by owners Treasury Holdings, was rejected as the new structure would have overshadowed the existing towers of the listed building.

The latest project, set to cost £5.5 billion, would bring 3,700 new homes and 2.3 million square feet of shops and office space to London. Wandsworth Borough Council has yet to grant planning permission but is expected to pronounce their verdict by August.

The work on the power station site is part of a long-term regeneration project for the Nine Elms area, south of the Thames, between Chelsea and Vauxhall. This includes plans to extend the underground via a branch from the Northern Line to Nine Elms and Battersea.

 

Image: Flickr (Steve Cadman)