Knight Frank brings Battersea Power Station to global market.
The landmark brick building will be advertised all over the world in a huge marketing push beginning next week to secure a long-term owner.
The Grade II listed former power station on the south bank of the River Thames is being billed as the last major undeveloped regeneration site in central London.
Stephan Miles-Brown, Head of Residential Development, Knight Frank, “this is the first time Battersea Power Station (BPS) has ever been offered for sale on the open market. As one of the UK’s most recognisable landmarks, Knight Frank anticipates considerable interest in a scheme that is among the most exciting in the world today. BPS is as iconic as the Chrysler Building in New York or the Eiffel Tower and familiar to people who may have never even been to London.
"The building is also the figurehead for one of London’s most ambitious regeneration programmes (Nine Elms), and gives the entire area a unique sense of place as well as putting it on the map. The scheme combines a 39.1 acre freehold site in a prominent central London riverside location and will include London’s first new public park for many years.
“BPS’ next owner will have to take a creative and long-term approach to its future and we are excited that the open sale process will present just such a developer.”
Planning permission for a £5 billion homes, offices, hotel, retail and leisure development has already been secured from Wandsworth council in 2011 by former owner Treasury Holdings.
The scheme sets outs the full restoration of BPS, Europe's largest brick building, at an estimated cost of £150 million, plus a £200 million contribution towards the Northern Line Extension from Kennington via Nine Elms that will connect the power station to the Tube network.