Battersea’s regeneration plan

Written on Wednesday, 18 December 2013.

One of the world’s most famous landmarks is undergoing a magnificent and visionary transformation. The multi-million pound redevelopment scheme in Battersea is finally under way with Battersea Power Station at the very heart of this exciting project. The 750 million pound redevelopment of the station will see an explosion in valuable commercial and residential opportunities and is one of the most exciting real estate projects currently underway in the capital.

Battersea Power Station by Nicolas de Camaret

So what is happening?

After years of inactivity and a variety of proposed plans Battersea power station is finally undergoing the mass regeneration it so desperately needs. The renovations will feature a 90,000 sq foot garden as well as rooftop gardens and an observation tower for stunning panoramic views of the capital. It is set to combine cutting edge office space, riverside apartments and various commercial spaces that are unique to the South West of London.

SW8 — the hottest postcode south of the river?

The complex will comprise of over 3000 1,2 and 3 bedroom apartments, townhouses and penthouses with the first occupants set to move in during 2016, yet this isn’t the only sign that the SW8 postcode is on fire at the moment. Other projects such as Riverside are full steam ahead under the leadership of world renowned architectural practice Rogers Stirk Harbour + Partners and by the end, towering glass apartments will be made available offering luxury riverside living right in the heart of London.

One Nine Elms will see a £700m mixed-use development within two 45 and 60 storey towers at the under development site which will feature 436 private homes and a luxury hotel by Chinese firm Wanda, the first outside of its native country. In a bold and unexpected move the American embassy recently announced that they would be relocating to the area adding to the already strong overseas interest.

The money being invested is huge and many people are after a piece of this new hot property landscape in the SW8 postcode. Additionally, TFL is planning to extend the northern line to serve residents of Battersea making journey times from there to the West End or the City less than 15 minutes perhaps making it the new sought after postcode in London.

The first wave of apartments was sold before they have even been built with many going to overseas buyers – further distorting the London property market but further providing evidence that there is opportunity to be had in SW8.

Commercial value

This is a huge opportunity for retailers both commercial and independent and it’s a given that many will be scrambling for a piece of the action. It’s a given that major retailers will already be submitting plans to gain a footing within the commercial space that will be on offer on the lower floors of the refurbished PowerStation but a certain amount of the property will be available for smaller independent retailers to take advantage.
With so much attention prices for commercial space here will be high so if you are planning on buying or leasing a commercial property in the area then don’t forget that HMRC allows you to offset some of your expenditure for tax purposes. Services such as Rift Capital Allowances aim to do just that.

New Battersea developments in Buildington:
– Battersea Power Station
– Riverlight
– One Nine Elms
– New U.S. Embassy

Please note that all property prices in this article are subject to change. You should always contact the sales representative for the up to date information.

While every effort has been made to ensure the accuracy of the information presented on this page is up to date and correct, Buildington accepts no responsibility for any errors contained in the information, or if the information is not current.