INDUSTRY NEWS

Regeneration of London site offers 3.5m sq ft of commercial space

The regeneration of the Battersea Power Station site will offer 3.5m sq ft of London office space.

Battersea Power Station, which is two miles from Big Ben and sits south bank of the River Thames was decommissioned in 1983.

Since the decommissioning, there have been a number of failed attempts to redevelop the site.

A group of Malaysian investors backed the current project, estimated at £8bn.

Regeneration of the Battersea site is expected to be completed in 2025, offering 3.5m sq ft of commercial space, of that 1.62m sq ft will be offices.

The power station’s outward facade is to remain intact, while it is filled with offices, retail, and high-end homes.

Situated around the power station will be a new main street of shops and restaurants, with around 40 of these to be ready by late 2016.

Site re-generators, Battersea Power Station Development Company plan to target global tenants, in a 11 country roadshow which it is due to commence in October.

It is hoped that the 42 acre site will prove attractive to retail brands and firms in the creative industry looking for their first office in the UK capital.

Battersea Power Station Development Company CEO, Rob Ticknell, said: “There are a number of different department stores in New York that haven’t moved overseas.

“Hopefully we can give them the space they’re looking for.”

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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