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Wed May 29 2024

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Battersea Power Station sale completes

5 Jul 12 Malaysian property companies SP Setia and Sime Darby have completed their £400m acquisition of Battersea Power Station.

Contracts for the deal, which was agreed last month, have now been exchanged.

The 39 acre site has planning consent for 3,500 homes and 1.7 million square feet of office space, as well as for hotel and retail units. There are also plans for two new Underground stations, extensions from the Northern line.

The new owners saw off competition from Kazakhstan, South Africa, China, Indonesia and Brazil, as well as from Chelsea Football Club, which wanted to build itself a new stadium on the site.

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