Apartments approved for Battersea redevelopment
Permission has been granted for 800 new homes at the Battersea Power Station redevelopment, bdonline.co.ukwrites. The iconic Grade II-listed structure, which was purchased by a Malaysian consortium for £400 million, is to be transformed into a residential and leisure complex over the next ten years.
ATan Sri Liew Kee Sin, president and chief executive of SP Setia, which makes up the consortium, told new.sky.com:
“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 as its heart, creating up to 26,000 new jobs in the process.”
A number of firms have tried, and failed to build on the 39-acre site before, with Chelsea Football Club considering it as a site for a new stadium once.
Redevelopment of the 39-acre Battersea Power Station site
Initial infrastructure work will begin at the end of this year, allowing construction of the 800 apartments around the power station to begin in September 2013. Phase one, as this stage is called, is due for completion by 2016. Work will then move into the power station itself.
Managing the project, Rob Tincknell hopes to sell all of the apartments in advance and is gearing an ambitious marketing campaign to overseas investors. Mr Tincknell said:
“London is a global city and Battersea is a global project, although we will prioritise the UK.”
Sustainable construction using renewable resource
According to telegraph.co.uk, the homes will sell for around £1,000 per square foot. The master plan, created by Rafeal Vinoly Architects and Real Estate Opportunities Ltd, boasts sustainable construction, with the power station being used to produce electricity but by using ‘renewable resources’.
The plans also include replacing the four chimneys which will involve demolishing the existing structures and rebuilding them, one at a time. This decision has been made amid fears that corrosion would cause the landmark chimneys to collapse.
The most exciting development in London?
The redevelopment of the 39-acre Battersea Power Station site, which has lain empty since 1983, comprises 3,400 homes in total, plus offices, hotels, shops and ‘an entertainment district’. In addition, the Northern Line is to be extended at a cost of £203 million.
Wandsworth Council leader, Ravi Govindia, called it ‘the most exciting development in London’ and said it would deliver ‘a massive boost to economic growth’.
Author: Elizabeth Smythe Date Written: 27 October 2012