The sale of the site to the Malaysian consortium of SP Setia, Sime Darby and the Employees Provident Fund (EPF) has now completed. Preparatory work is scheduled to begin later this year and first ground broken on site in the second half of 2013.
Phase One of the development will consist of several residential blocks containing 800 apartments. These will stand above a commercial podium that will include retail, restaurants, gym, pool, theatre and office studios. There will also be a new six-acre public park along the river, directly linking to neighbouring Battersea Park. This phase will be self-contained and is designed by Ian Simpson Architects and de Rijke Marsh Morgan in accordance with the Rafael Vinoly masterplan.
The approved proposals to redevelop the 39-acre site will include the completed regeneration of the power station, the largest brick building in Europe and one of the most significant surviving examples of Art Deco architecture.
The consortium has also committed to supporting construction of the proposed extension to the Northern Line into the Nine Elms area.
The site was acquired for £400m through a special purpose vehicle known as Battersea Project Holding Company Ltd (BPHC) in which SP Setia and Sime Darby have a 40% stake each with EPF holding the remaining 20%. The finished project is expected to be worth £8bn and create as many as 26,000 jobs.
Rob Tincknell has worked in the property market for 25 years and joined the Berkeley Group in 1992, rising to become managing director of the commercial division. In 2002 he was recruited by Treasury Holdings, where he became deputy CEO in 2005. He led the team that obtained the current planning permission for the Battersea Power Station redevelopment.