After years of speculation about the future of Battersea Power station it has been announced that the Malaysian Consortium who rescued the site will in fact have to knock down the two chimneys and rebuild them as part of the £8 billion redevelopment.
The restoration and development of Battersea will begin in September 2013 with 800 riverside flats and extensive commercial space filling the void that has existed on the site for over 25 years. The new homes will be built above what is termed a ‘commercial podium’ of shops, offices, restaurants, gyms and pools. A six-acre riverside park will also spring up and be linked to Battersea Park. Later phases of work include building 50 flats under the towers and extensive commercial properties and excitingly there is also talk about extending the Underground and riverboat service out to the new development. A proposal for this is to be submitted to the Government next spring. The Power Station itself will be converted into offices and shops, with a large events space in the middle.
Development of the area is sure to have a positive impact on both commercial and residential property prices locally and create a new desirable area to live, work and play in South London.
Hanne & Co are established specialists in both commercial and residential property throughout South London. If you require advice on any residential or commercial property matters, please contact Tim Mendes da Costa, an experienced solicitor in Hanne & Co’s Property Department advising and representing buyers, sellers and landlords throughout South London and Central London.