The re-organisation of the ownership of commercial assets within the Power Station has now completed, announced Battersea Power Station Development Company (BPSDC) last week.
The shareholders of the commercial assets in the new structure are Malaysian investors, Permodalan Nasional Berhad (PNB), one of the largest asset management companies in Malaysia and The Employees Provident Fund of Malaysia (EPF). They have acquired the commercial assets in the Power Station through a joint venture, of which they own 65% and 35% respectively, for a total purchase price of £1,583 million.
The Power Station building accounts for some six acres of the overall 42-acre regeneration site and is regarded as the jewel in the crown of the project. It is currently being restored and will, on completion from the end of 2020, become home to hundreds of shops, restaurants, cafes, event spaces and cinemas as well as new homes, Apple’s London campus and business members club, No18.
PNB and EPF, which is Malaysia’s premier retirement savings fund, already own 70% of the entire Battersea Power Station development through their holdings in the original developers and in the case of EPF through a direct 20% holding. The transaction does not affect the shareholdings in Battersea Project Holding Company Limited, which remain unchanged between S P Setia (40%), Sime Darby Property (40%) and EPF (20%). UK-based BPSDC and its subsidiaries will continue as the development, estate and asset manager for all phases of the overall development.
Dato’ Ahmad Pardas Senin, Chairman of Battersea Project Holding Company Ltd, commented: “We are delighted that this reorganisation has concluded, giving this iconic landmark a sound footing for the future and ensuring it is expertly curated and managed in the longer term.”
Datuk Wong Tuck Wai, Chairman of BPSDC, said: “The closure of this transaction marks a significant milestone for all parties involved as it allows the parties to focus on what they do best respectively and specifically enhance the roles each plays in the overall Battersea project.”
Simon Murphy, Chief Executive of BPSDC, added: “Significant headway has already been made this year in terms of the restoration works which we would not have achieved without the support and guidance from our shareholders and stakeholders. We are excited by the prospect of the Power Station and surrounding area becoming a new, thriving London destination for future generations to enjoy.”
18/03/2019 10:28 by Buildington
Battersea Power Station today unveils a major new London attraction, a glass elevator which will travel 109 metres to the top of one of the iconic chimneys. On opening, it will offer visitors unrivalled views of the capital's skyline from one of the most unique viewing platforms in London.
The Chimney Lift is one of three new and exciting event/attraction spaces on offer inside the iconic Power Station. Once complete, these latest additions will sit alongside the many shops, restaurants and office spaces within the Power Station when it opens to the public in 2021.
The Chimney Lift: will provide visitors with the unique experience of travelling up the interior of the north-west chimney in a custom-built glass elevator which emerges at the 109 metres high summit as a viewing platform, offering breathtaking 360° panoramic vistas across the capital.
The Power Station is due for completion in late 2020, with it opening to the public in 2021.
Andrew Hilston, Head of Leasing at Battersea Power Station Development Company (BPSDC), commented:
“On behalf of our Shareholders, we are very excited to announce a series of thrilling lifestyle, entertainment and attraction spaces, and to launch our search for commercial partners who share our vision for Battersea Power Station.
“These unique spaces are central to our plans that will make Battersea Power Station one of London’s most exciting destinations. Having already engaged with a number of prospective partners, we are confident the market shares our enthusiasm for the new spaces, and we’re looking forward to selecting partners that can deliver real vibrancy, animation and soul to the development.”
The selection process is being managed by international venue experts, IPW. For more information or to speak to a member of the Battersea Power Station Leasing Team please visit: batterseapowerstation.co.uk. This is an exciting opportunity for experienced and expert operators to partner in the delivery of a landmark development project in the heart of London.
See more at batterseapowerstation.co.uk.
19/10/2018 15:49 by Buildington
Battersea Power Station has let the remaining 40,000 square feet office space within the Power Station itself to members club, No18, which will be situated next door to Apple when it opens in 2021.
No18 is a cosmopolitan members club for businesses with beautifully designed lounges, meeting rooms and high-end workspaces tailored to support all its members’ needs. It currently has two venues in Stockholm, Sweden. Since becoming part of IWG, a global operator of leading workspace companies that has a presence in over 110 countries, No18 has also secured a presence in the US and Switzerland during a gradual global rollout. As part of its expansion plans, the company has now secured its first presence in the UK.
No18 will create a bespoke offering for the Power Station called The Engine Room. Set over two floors overlooking the light-filled southern atrium, it will look down into the two turbine halls that will house over 100 shops and restaurants for occupiers to enjoy. No18 members will also be sharing the building with Apple, the anchor office tenant, and residents living in the Power Station’s new homes.
No18 provides a home for a rewarding business lifestyle. The company’s venues are akin to a blend of workspace and residence, with common areas featuring a unique eclectic aesthetic - serving as spectacular co-working spaces and casual meeting spots - and offices featuring the best conditions for work performance and potential for individual adjustments.
Of the one million square feet of commercial space available in the Power Station building, 52% has now been let as office space, with the retail and leisure space now actively pre- letting. Battersea Power Station is working closely with a wide collection of heritage and emerging retail brands from the UK and across the globe to complement its vision for the 1930s and 1950s turbine halls and looks forward to announcing some of the brands that will also be calling the Power Station home.
Andrew Hilston, Head of Leasing at Battersea Power Station Development Company (BPSDC), commented:
“On behalf of our Shareholders, we’re very excited to welcome No18 to the remaining space in the Power Station as their first UK venue and believe this bespoke concept will offer an extraordinary place to work and do business.
“With Apple’s new London campus and now No18’s innovative, design-led offering moving here, Battersea Power Station is set to become the centre of one of the London’s most exciting tech and media districts. Having these two brands signed up forms a strong base for the rest of the 750,000 sq ft office space which will be delivered in our future phases.”
Michel Gordin, CEO and Founder of No18, added:
"Battersea Power Station is a global icon. We believe it is the perfect fit for us – a place brimming with stories, where heritage meets novelty. We will be bringing The Engine Room, a concept that will complement the architecture of the Power Station building and provide a breath-taking environment – a true experience to visit – in which businesses and individuals can thrive in pursuit of the next big innovation.
“We believe this location fits our ethos to create a sanctuary where productivity, inspiration, and style converge. We are excited to be a part of it and to open our doors.”
The Engine Room will be an exciting members club and workspace, benefiting from excellent facilities such as fantastic lounge spaces with a central bar and café; a variety of co-working spaces, modern offices and meeting rooms; an events venue; and various client services.
The Grade II* listed Power Station building, designed by WilkinsonEyre, is the second phase of the Battersea Power Station regeneration project, which will create one of the most exciting neighbourhoods in the world. It is located on the Thames riverside, minutes from Battersea Park to the west and the new US Embassy in the Nine Elms development area to the east. Battersea Power Station already has its own River Bus pier with frequent services to the West End, the City and further afield, and it will soon have its own Zone 1 Underground station. The first phase, Circus West Village, is already open with thousands of residents having moved in. The shops, bars and restaurants are open for business and there has been strong interest in the Power Station retail space.
At least another 750,000 square feet of offices will be available in future phases of the development.
The Malaysian shareholders of the Battersea Power Station project are committed to giving back to the communities in which they operate. They recognise the importance of creating shared value, and this is embedded in all their undertakings to ensure that they contribute to building a harmonious and considerate community.
Visit batterseapowerstation.co.uk to find out more.
21/08/2018 15:16 by Buildington
Battersea Power Station Turbine Halls, London’s newest retail and leisure destination, launched last Friday 23rd March 2018.
Millions of people will visit the Power Station once it reopens and is brought back to life in 2020. They will be able to take advantage of the wide range of shops planned as well as a food hall that will provide local visitors, residents, tourists, shoppers and workers with a huge variety of places to eat, drink, engage and interact.
The two turbine halls will house the vast array of carefully curated brands from around the world in just over a hundred units.
Turbine Hall A, which was built in the 1930s and evokes the lavish Art Deco glamour of its era, will be home to the Premium Collection, brands that portray elegance, sophistication and timeless style while Turbine Hall B, completed in the 1950s, has a sparer aesthetic and will bring together contemporary brands providing an eclectic mix of younger, faster and more diverse names.
Apple, one of the most famous brands in the world, has already pre-let 500,000 sq ft of offices within the building. When completed, Battersea Power Station will be the third largest retail destination in Central London, comparable in scope to Oxford Street and just as centrally located. Getting to the area could not be easier. MBNA Thames Clippers delivers you to the door of the Power Station while the Northern Line is being extended to give the site its own Zone 1 tube station.
The Power Station will not just be visited by those looking to do their shopping, but by the millions of people who will be visiting Circus West Village to eat at one of the many fantastic restaurants or bars that have recently opened, take in an event at The Village Hall, enjoy the new park being created or simply have a coffee overlooking The Thames. The area is already becoming one of London’s most exciting new food and drink destinations.
Visitors will also come to see the Power Station itself – it has been a huge attraction on Open House days already – to ride the chimney lift for amazing London views, to see the remarkable A and B Control Rooms and to do business at the Apple offices in the Power Station or the new US Embassy nearby.
Simon Murphy, Deputy CEO and CFO of Battersea Power Station Development Company, commented: “The retail offering here will form a key part of a new London destination we are creating at Battersea Power Station. Locals and those from across Britain and the world will be coming here for all sorts of reasons, including being able to go into one of the world’s most recognisable buildings.
“On behalf of our Malaysian shareholders, we are looking forward to fully opening this iconic building to the public for the first time so that it can be enjoyed for generations to come.”
Sam Cotton, Retail Leasing Director at Battersea Power Station Development Company, added: “We are creating something very special here that will stand alone in the retail world. We will be giving consumers access to both well-known brands, who will be offering something different to what they have elsewhere, as well as great start-ups from Britain and around the world.
“The response we have already had from businesses has been incredible and as we are handpicking every single retailer, this is going to be a fantastic place for both retailers and consumers. We are scouring the globe, not only for the best retailers but also looking at how we can provide a platform for the wider evolution of retail.”
Helen Carr, F&B Leasing Director at Battersea Power Station Development Company, said: “Food lovers, chefs and restaurateurs from all over the world have their eyes on the Power Station as it emerges as a new food destination and we are in a great position to attract the best of this home grown talent and global cuisines.
"We will have a 35,000 sq ft food hall showcasing innovative dining experiences that combine the best of London’s vibrant food scene, including the latest restaurant start-ups, new concepts, and international cuisines. It will be a place to discover emerging talent, alongside established chefs, and a chance to sample the latest food trends or enjoy old favourites.”
Shirin Elghanayan, Partner at CWM, commented: “I regularly speak to retailers and brands around the world and the anticipation about what is being created at Battersea Power Station is tremendous. This is such a unique offering because of the iconic status of the building and the fact that it will be housing brands offering something new, bold and creative.”
Find out more at batterseapowerstation.co.uk.
28/03/2018 14:49 by Buildington
Battersea Power Station in partnership with Peabody will deliver the first 386 affordable homes at the Battersea Power Station development.
Peabody was carefully selected to partner with the developer following the consideration of several government registered providers due to their detailed knowledge and expertise in
providing this type of housing.
The affordable homes at Battersea Power Station development will be delivered for the local community three years earlier than required in the masterplan, with preliminary works beginning this year, and should be ready for local residents to move into in 2020.
Patel Taylor is the appointed architect on this phase and the design of these new buildings ranging from one to four bedroom properties will echo the style of London’s grand redbrick mansion blocks. All homes will have private outdoor
space – balconies, terraces access to private residents’ garden and 98 per cent will be dual aspect.
The development is expected to include a new £13 million NHS medical centre as well as workspaces for start up businesses. The homes will be a mix of shared ownership and
affordable rent. The rented homes will be significantly discounted from market rate and there will be homes available on a part rent, part buy basis.
These are the first 386 affordable homes that Battersea Power Station is committed to delivering with a review mechanism due to take place nearer completion to confirm the final
number of affordable homes to deliver.
The Malaysian shareholders of the Battersea Power Station project are committed to giving back to the communities in which they operate. They recognise the importance of creating shared value and this is embedded in all their undertakings to ensure that they contribute to
building a harmonious and caring community.
To find out more about affordable homes at Battersea Power Station, please register on the Battersea Power Station website at: www.batterseapowerstation.co.uk/affordablehomes
Brendan Sarsfield, Chief Executive of Peabody, commented:
“The regeneration of Battersea Power Station is an iconic scheme for the capital which we are pleased to be a part of. This collaboration will be an important part of the 2,500 new homes we are building each year. These top quality, genuinely affordable homes will be on the doorstep of the new Northern Line tube station, making it a hugely desirable place to live and work. The traditional mansion block designs, with a courtyard and spaces for children to play, will be a great addition to the Nine Elms neighbourhood.
"We look forward to working with Wandsworth Council, Battersea Power Station Development Company and the GLA as the scheme progresses."
Rob Tincknell, Chief Executive Officer at Battersea Power Station Development Company, added:
“We believe Peabody are one of the best in class when it comes to providing and looking after affordable homes so we are confident this partnership will ensure the local community benefits sooner than we originally promised and can enjoy the high standards of accommodation they rightly expect.
“The team at Battersea is committed to building a strong and diverse community across the whole development along with ensuring the surrounding areas benefit too via new facilities
such as a new NHS medical centre, children’s play area and affordable workspaces. This sits alongside the ongoing wider investment in the area such as the Northern Line extension to
Battersea and creating thousands of new jobs.
“We look forward to starting works on these homes with Peabody and encourage locals to register to become part of the Battersea Power Station community.”
Cllr Ravi Govindia, the leader of Wandsworth Council, said:
“This is an important announcement as part of the wider Nine Elms regeneration project, which is bringing 20,000 new homes and 25,000 permanent jobs to the area. Wandsworth Council has been involved with Peabody on many different projects over several years and we are pleased to be working alongside them again.
“As you can see with this new NHS medical centre, children’s playground and these first 386 affordable homes, this is a scheme that will improve the quality of life of our residents and offer up opportunities for those who need them the most.
“I’m delighted to see these hundreds of new homes being delivered at affordable prices and it’s also pleasing that four bed homes are going to be available for local families who may be struggling to find accommodation in the difficult housing market climate.”
20/03/2018 06:54 by Buildington
The first new shops, restaurants and cafés moving into the first phase, Circus West, have been revealed. These include:
1. Pedler Cru: Neighbourhood Eatery - vibrant neighbourhood eatery offering seasonal ingredients and a daily changing menu
2. Vagabond: Wine Shop and Wine Bar – award-winning, independent, hybrid wine shop and bar
3. Allens of Battersea: Butcher – Renowned London butcher providing quality meat but also offering butchery courses
4. Flour Power City Bakery: Bakery and Café – Organic bakery and all day café serving delicious bread, pastries and cakes baked the artisan way
5. The Coffeeworks Project: Coffee shop – Family run, independent speciality coffee house showcasing the best coffee, tea and food in a friendly and relaxed environment
6. The General Store: General Store – Diversely stocked general store and deli run by foodies passionate about the best in class produce and customer service
7. No29: A modern vision of the 21st Century Pub – Local, independent neighbourhood bar serving great food all day established by Darwin and Wallace
8. Paul Edmonds: Hair Salon – luxury hair salon by leading hair stylist to the stars Paul Edmonds
9. Philippa Craddock: Florist – Acclaimed British florist supplying luxury flowers
10. The Village Hall (in partnership with Battersea Arts Centre): a dedicated space for events, arts, residents and visitors.
The commercial space at Circus West, which occupies the entire ground floor, is the bedrock of building a vibrant new neighbourhood which not only delivers the community-focused village environment which we know our buyers have been keen to see, but also helps to create an attractive visitor destination when Circus West opens to the public.
Joanne Skilton, Head of Leasing, Battersea Power Station Development Company commented:
“The team at Battersea has looked carefully at all the elements needed to create both a great community and a great place. We have therefore put together a mix of local shops, restaurants and social amenities which will not only give Circus West a distinctive neighbourhood feel, but make it a fantastic place for people to visit when it opens.
“Perhaps the best example of Team Battersea’s commitment to a local tenant strategy can be seen with The General Store. We were approached by a number of big chains. However, we chose the route of these particular independent and local businesses as they have a proven track record in the area, connecting to the community they serve and creating that all important village feel which is what people really want.”
Circus West is located alongside the western edge of the Power Station within a few minutes’ walking distance of Chelsea. It will be home to residents, workers and visitors, who will be able to live, work and spend time in and around one of two fantastic new buildings designed by renowned architects’ SimpsonHaugh and Partners and dRMM. The phase also includes the renovated railway arches and the first elements of the new riverside park.
Circus West is the beginning of the unfolding chapter of London’s newest town centre which, when complete, will host 25,000 people living and working on site, lead to the creation of 17,000 direct new jobs and bring about the first major extension of the London Underground system since the Millennium in a unique public/private partnership.
The new Circus West businesses will open to the public in early 2017. London’s leading river bus service, MBNA Thames Clippers will operate the only service from Circus West to central London from 2017.
For more details on Circus West please visit www.batterseapowerstation.co.uk/circuswest
21/03/2016 15:39 by Buildington
Global launch of stunning homes at Battersea Power Station designed by world class architects Foster + Partners and Gehry Partners on 31st October.
Register for residential sales at Batterseapowerstation.co.uk.
Via Homes & Property, Evening Standard 8.10.2014.
10/10/2014 22:23 by Buildington
Carillion has awarded Skanska a 2-year agreement to deliver the mechanical and electrical shell, core and fit-out works at the Battersea Power Station site.
The contract is worth £88.6 million to Skanska and will provide employment for approximately 250 people across its duration.
The prime residential apartments will be contained within two buildings and include a large communal basement and podium areas.
Martin Neeson, Managing Director, said: “This contract is great news, not just for Skanska, but also for our client and eventually for those people who will be living in the newly-built homes. Residential schemes are a strategic priority for our engineering business and this development offers an opportunity to build on our successful work at One Tower Bridge.”
The iconic site has been a feature of the London skyline since the 1950s. It appears on the cover of Pink Floyd’s album Animals, as well as in numerous films and TV shows. The 83-hectare (200-acre) Battersea Park is also close to the site.
Work on the mechanical and electrical elements is set to commence in September 2014 and scheduled to conclude in October 2016.
29/07/2014 13:42 by Buildington
Ahead of submission of the detailed plans, the Battersea Power Station Development Company, on behalf of its shareholders is holding a public consultation on-site.
Times of the public exhibition are as follows:
Thursday 10 April: 11am – 8pm
Friday 11 April: 10am – 6pm
Saturday 12 April: 10am – 3pm
Sunday 13 April: 10am to 3pm
09/04/2014 16:51 by Buildington
Battersea Power Station Development Company has unveiled the plans for Phase Three of the development, designed by world-renowned architects Gehry Partners and Foster + Partners.
Following an international design competition held in September 2013, the two architectural practices were chosen for the bold and innovative designs they had for both new homes and a new pedestrianised retail street in the area to the south of the Power Station. The designs reflect the shareholders’ commitment to creating world-class buildings that will complement the iconic Power Station, while becoming destinations in their own right. The project represents the first permanent development in London by Gehry Partners.
Phase Three is a key part of the regeneration of the Battersea site, and will feature a new high street for London, to be known as The Electric Boulevard. This will be the main gateway to the entire Battersea development, connecting the Northern Line Extension station with the Power Station itself, and is at the heart of the vibrant new community being created on the 42-acre site.
The third phase will comprise over 1,300 homes in a range of sizes and styles in two zones on either side of the boulevard. In addition, a 160 room hotel and 350,000 sq ft. of retail and restaurant space plus additional leisure space will be delivered as part of the proposals. 103 affordable homes from the total of 517 being provided across the development will also be delivered as part of this third phase.Gehry Partners is respected for its far-ranging experience in cultural, institutional and commercial projects such as the Guggenheim in Bilbao and the Walt Disney Concert Hall in the practice’s home city of Los Angeles. Gehry Partners has designed the five buildings to the east of The Electric Boulevard, to be known as “Prospect Place” which will house double-height retail units at street level, approximately half of the planned residential units, a community park and multi-use community hub. “Prospect Place” will be anchored by the distinctive “Flower” building. The design of the buildings reflects Gehry’s commitment to excellence and dedication to making public and private spaces that feel good for the inhabitants and respect the surrounding context.
Foster + Partners’ projects include 30 St Mary Axe (‘the Gherkin’), the British Museum in London and the Reichstag, the new German Parliament in Berlin. The practice has designed the building to the west of The Electric Boulevard, to be known as “The Skyline” which undulates along the line of the boulevard, creating a unique building profile. Two floors of retail units will front on to the western side and huge breaks in the façade will allow light through to the public spaces below, while creating amazing gardens in the sky. The top of the entire building is given over to one of London’s largest roof gardens, over a quarter of a kilometre long, with breathtaking views of the Power Station and the city beyond. Housing the other half of the planned residential units, including the 103 units of affordable housing in its southern end, a medical centre and a 160 room hotel at the northern end, “The Skyline” is a prime example of a multi-functional building.
Rob Tincknell, CEO of Battersea Power Station Development Company, commented: “We have set out to make Battersea a showcase for the world’s very best architects and the designs we are unveiling today demonstrate that commitment in action. Phase Three is an important part of our plans for the Power Station site, creating a new thoroughfare which will be at the heart of the new vibrant community. We are determined to create a genuine sense of place, and developing landmark buildings in which people are proud to make their home and work in is vital to us achieving that aim.
”Frank Gehry, Founder of Gehry Partners, said: “Our goal from the start has been to create a neighbourhood that connects into the historic fabric of the city of London, but one that has its own identity and integrity. We have tried to create humanistic environments that feel good to live in and visit.”
Grant Brooker, Design Director and Senior Partner at Foster + Partners, said: “We moved our own office to Wandsworth almost twenty five years ago – the Borough is very important to us, so we were absolutely delighted to be chosen by the shareholders of Battersea Power Station to be part of this inspiring regeneration project. It will transform the area and create a vibrant new district for South London that we can all be proud of.
”Ed Vaizey, Culture Minister, said: “Battersea Power Station is an iconic site and the unveiling of this exciting new design by Frank Gehry and Foster + Partners will ensure the development of this former industrial site will put Battersea on the world stage once again. The plans for a new high street for the capital show that London continues to attract the best in terms of architecture, design and innovation.
”The Battersea Power Station master plan, designed by Rafael Vinoly, comprises over 3,400 homes as well as offices, shops, restaurants, bars, cafes, hotels, community and leisure facilities and 18 acres of open space.
Work began on Phase One of the development, known as Circus West, in July 2013 while work on the restoration of the Grade II* listed Power Station itself is gathering pace, with the reconstruction of the first of the iconic chimneys to the original specifications set to start shortly.
Source: www.batterseapowerstation.co.uk April 7, 2014
08/04/2014 12:34 by Buildington
“We have no overseas launches planned whatsoever and the reason we are doing that is to attempt to capture the people who are really London-based. If you are not London based then you have got to come to London to actually buy it – we are not coming to them.” - Rob Tincknell talks to Kasmira Jefford of City A.M. about British buyers and more http://www.cityam.com/article/1396844459/man-putting-new-power-battersea-station
07/04/2014 12:49 by Buildington
The launch of the Phase Two properties in the iconic Power Station building itself, which will only be held in London, will commence on 1st May 2014 at Battersea Power Station.
Prospective occupiers will be required to register their interest at www.batterseapowerstation.co.uk or by telephone on 020 7501 0678 and to attend the allocated sales appointments in person.Prospective purchasers are now invited to register their interest in living in one of the 254 apartments available in the refurbished Power Station.
The properties will range from studio apartments to five bedroom penthouses. They will be situated within the existing facades of the western and eastern flanks of the Power Station and on top of the central boiler house. Those on the roof of the central boiler house will frame a spectacular new ‘garden in the sky’.
The decision to launch these homes in London solely follows the company’s decision to launch Phase 1, Circus West, in London first in January 2013, last year. The company has been committed to prioritising UK buyers from the outset of the development as part of the long term commitment to community building and place making.
The redevelopment of the Battersea Power Station site will create 15,000 new jobs, 3,500 new homes and a privately funded extension of London Underground at Nine Elms and Battersea Power Station.
Rob Tincknell, Chief Executive Officer of Battersea Power Station Development Company, commented:“This is a once in a lifetime opportunity to own one of a relatively small number of fantastic homes being created in the iconic Power Station itself. Having awaited development for thirty years, this famous London landmark is now being restored and given a new lease of life and will be home to events space, shops, restaurants, offices and a limited number of new homes.
There has been a lot of comment recently about London’s housing problems and we believe the only way to try and solve this is to build great homes and create a community that people actually want to live in.
We are proud to be launching these new homes in London only, and this decision is part of a wider strategy to create a product well-suited for owner occupiers and people who will help us create a real and lasting community here in Battersea.”By being significantly larger than many other comparable residences and with thoughtful specification levels, homes at the Power Station have been designed with a view to attracting owner-occupiers who will be attracted by the London landmark.
The Power Station is at the heart of a wider 40 acre mixed-use development that will comprise office space for around 5000 people, approximately 200 shops and restaurants, a state-of-the art performance venue, cinema and a boutique hotel all set amongst 18 acres of public space including a new six acre riverside park.
The architect working on the restoration of The Power Station is specialist heritage architectural practice Wilkinson Eyre Architects – one of the UK’s leading practices based in London. The practice has designed a diverse number of projects internationally and is particularly well known for The Royal Ballet School ‘Bridge of Aspiration’ and the University of Oxford’s New Bodleian Library.
Preparatory work on The Power Station has already begun and when completed the building will be fully restored and open to the public with the Northern Line extension fully operating.
Prices for the new homes will be released in April.
Source: Battersea Power Station www.batterseapowerstation.co.uk 19. February 2014
20/02/2014 13:25 by Buildington
Mace has been appointed as construction manager for the Battersea Power Station Preliminary Works. Mace will manage the trade contractors who will undertake the £100m works package which comprises brick repairs to the elevations, the repairs to the four wash towers, and the dismantling and reconstructing of the chimneys.
The Preliminary Works will start in October 2013, with the dismantling of the first chimney expected to begin in February 2014.
Rob Tincknell, CEO of Battersea Power Station Development Company, said: “The restoration of the Power Station is at the heart of this entire redevelopment and we are delighted that this vital work is now getting underway. The appointment of Mace, which has an excellent record in historic and specialised buildings, will ensure that Gilbert Scott’s masterpiece is in safe hands and that all the constructors working on its restoration are pulling together so that we can finally refurbish it and open it up to the public.”
Stephen Pycroft, Executive Chairman of Mace commented: “I am delighted that we have been given the opportunity to work on such an important project. The Power Station has been a landmark on the London skyline for many decades and our priority is to ensure that it remains a landmark for many more decades to come.”
Mace will work on the preliminary repair works as part of a team of expert contractors and consultants, all of which are leading companies in their respective fields with extensive experience of landmark projects such as Battersea Power Station. They include Buro Happold, Purcell, Turner & Townsend and Gardiner & Theobald.
The shell and core works of the Power Station, currently being designed by Wilkinson Eyre, will be tendered during 2014 with a planned start on site date of March 2015.
Source: Mace www.macegroup.com 02.09.2013
06/09/2013 11:18 by Buildington
The restoration work to the Grade II* listed Power Station will commence in October 2013 - marking the 30 year anniversary of the power being turned off at Battersea Power Station. The restoration of the Power Station building and chimneys is expected to complete in 2016.
The programme will commence with an initial £100m package of repair works, which will lead to the comprehensive renovation of the exterior of the Power Station building. This first phase of the works involves repairs to the external brickwork, wash towers, the steel frame, windows and the replacement of the four chimneys, which will be reconstructed to the highest structural standards ensuring they remain a landmark on the London skyline for generations to come.
Battersea Power Station Development Company is now focusing on finalising the detailed design of the interior of the Power Station, building on the existing Rafael Vinoly masterplan for the site. To assist this process, Battersea Power Station Development Company is working with a number of specialist consultants.
Buro Happold and Purcell will provide structural engineering and façade repairs advice. Buro Happold has worked on Battersea Power Station for over 10 years and has a huge knowledge of the listed structure. Specialist heritage architecture practice Wilkinson Eyre Architects has been appointed to complete the detailed design. Gardiner & Theobald is appointed as the repairs cost consultant, and Turner & Townsend is the project manager for the repairs.
Commenting on the restoration programme the Chief Executive of Battersea Power Station Development Company, Rob Tincknell, said: “Battersea Power Station is at the heart of this exciting new community, giving it an identity and authenticity unique among London developments. We have assembled an outstanding team to handle the restoration of this iconic building. Their engagement marks the point at which we are delivering the inspiring work of Rafael Vinoly and constructing the world-class destination he has mapped out. The reconstruction of the iconic chimneys is an essential part of the refurbishment and will be undertaken with great care and precision so that they remain a landmark on the London skyline for decades to come.”
Justin Phillips, Partner and Board Director of Buro Happold said; “We have several years’ experience and detailed knowledge of the Power Station building. We are extremely confident that the design solution we are working on with the Battersea Power Station team will ensure that Battersea Power Station has a bright and long future.”
The Power Station is one of the largest brick buildings in Europe and one of the most significant surviving examples of Art Deco architecture in the world. The restoration work will also include the essential replacement of the Power Station’s four iconic chimneys, which will ensure their structural integrity and long-term future as the centrepiece of the project. This vital body of work will be done in conjunction with English Heritage and London Borough of Wandsworth and working to the original architectural plans used at the time of their construction over eighty years ago. Wilkinson Eyre Architects is one of the UK’s leading architecture practices, with a portfolio of national and international award-winning projects. It earned back-to-back success in the RIBA Stirling Prize for Architecture, for the Magna Project in 2001 and the Gateshead Millennium Bridge in 2002. The practice’s projects include the new Bodleian Library in Oxford, the Guangzhou International Finance Centre in China; the Basketball Arena for the London 2012 Olympics; and the Mary Rose Museum in Portsmouth.
Work on the Power Station represents the second phase of the 39-acre Battersea Power Station redevelopment. Last week Carillion was announced as the preferred bidder for the construction of Circus West, the residential and commercial buildings to the west of the Power Station. Preparatory work on Phase One has already begun with main construction works expected to commence in the summer of 2013 and scheduled for completion in 2016.
Source: Battersea Power Station Development Company on Behalf of Battersea Power Station shareholders 30. May 2013 www.batterseapowerstation.co.uk
31/05/2013 13:51 by Buildington
Carillion has been selected to deliver the £400 million first phase of redevelopment at Battersea Power Station.
The project is a mixed-use development comprising 866 apartments, including 11 penthouses, together with retail facilities, theatre space and business studios, in two blocks built on a podium with two levels of basement parking.
The redevelopment project will be located within the area bounded by Battersea Power Station to the East, the main railway serving Victoria Station to the West and the river Thames to the North.
The main block will vary in height from 8 storeys at its southern end, rising to 18 storeys and then reducing to 12 storeys at its northern end.
The second block will be 8 storeys high. Extensive hard and soft landscaping is included as part of the Phase 1 works.
This project forms part of the overall strategy to create a high-density, mixed-use development around the restored former Grade II* Power Station.
Main construction works for Phase 1 will start in the summer of 2013 and are scheduled for completion in 2016.
"We believe Carillion is best placed to deliver the ambition, precision and rigour that people rightly expect..."
- Rob Tincknell, Chief Executive of Battersea Power Station Development Company
The Battersea Power Station development site is owned by a Malaysian consortium of S P Setia, Sime Darby Property and Employees' Provident Fund. The development is being managed by British firm Battersea Power Station Development Company.
Carillion Chief Executive, Richard Howson, said: "We are delighted to have been selected as the preferred bidder for this prestigious project, which I believe reflects Carillion's reputation for delivering high-quality, value for money projects.
We look forward to working in partnership with the Battersea Power Station Development Company to deliver this iconic project that will make a major contribution to the transformation of this historic site."
"This takes the total value of new orders and probable orders for Carillion in 2013 to some £2.6 billion and demonstrates the benefits of our strategy in construction services of focusing on national projects."
Chief Executive of Battersea Power Station Development Company, Rob Tincknell, said: "This will be one of the largest construction contracts to be awarded in recent history and, on behalf of the Battersea Power Station shareholders, we are delighted it will go to an award-winning British firm.
"The first phase of any redevelopment is an important statement of the qualities that will govern the entire project and for that reason we took a lot of time selecting the contractor. After a great deal of consideration, we believe Carillion is best placed to deliver the ambition, precision and rigour that people rightly expect from a scheme which will flank a building as famous and distinguished as Battersea Power Station.
Battersea Power Station is the last central London regeneration project of its sort and over the course of the redevelopment it will generate 15,000 new jobs, 3,500 new homes and the restoration of the historic Power Station."
Source: Carillion www.carillionplc.com 22.05.2013
23/05/2013 20:20 by Buildington
More than £600 million worth of flats and townhouses ranging from £343,000 for a studio to £6 million for a penthouse were sold at Battersea Power Station in four days after the launch.
The Evening Standard reports that 3 quarters of the initial phase of 800 properties at the project called Circus West were snapped up at what is thought to be the fastest selling property development on record in London.
Read more: Battersea sales bonanza as £600m flats sold in four days http://www.standard.co.uk/news/london/battersea-sales-bonanza-as-600m-flats-sold-in-four-days-8450783.html
16/01/2013 15:14 by Buildington
Battersea Power Station launches sales programme in London. Sales exhibitions around the world to follow in coming weeks.
Battersea Power Station Development Company (“BPSDC”) is pleased to announce the launch of the UK sales programme with a preview for pre-registered applications at 3:00pm this afternoon followed by a general launch at 10:00am this morning 10 January 2013.
Potential purchasers are invited to Battersea Power Station to review the Rafael Viñoly masterplan and will have an opportunity to purchase residential apartments across a range of sizes and prices in the first phase of this iconic development named Circus West at Battersea Power Station.
Circus West at Battersea Power Station is a mix of 800 1, 2 and 3 bedroom apartments, townhouses and penthouses as well as a blend of offices, shops, leisure and hospitality designed by Ian Simpson Architects and de Ryke Marsh Morgan (dRMM). Prices start from £338,000 for a studio, from £423,000 for a one-bedroom, from £613,000 for a two-bedroom and £894,000 for a three-bedroom apartment with first occupancy expected to be in 2016.
The UK sales programme will be followed by sales exhibitions around the world in the coming weeks.
Rob Tincknell, Chief Executive Officer of Battersea Power Station Development Company, commented: “We are incredibly excited to be welcoming the UK public to the site of one of Britain’s most iconic landmarks. Over the past few months, we have seen enormous interest in this unique development from potential purchasers, and we are delighted to be presenting them with an opportunity to be a part of what is sure to become a vibrant new town centre in the heart of London.”
Situated on the western side of the Power Station, Circus West at Battersea Power Station will be a thriving new community where people come to live, work, socialise and spend their leisure time. As well as over 800 apartments, suites, townhouses and penthouses across 8 buildings, Circus West will have a range of amenities and services including art galleries, a Power Station Design shop, independent coffee shops, a boutique theatre, 35,000sq ft of creative business studios, a 15,000sq ft. gym, an indoor swimming pool and a health spa.
All residents will have access to an elevated residents garden, with apartments having an enclosed ‘Winter Garden’ that will provide useable outside space all year around, whilst the penthouses will have private rooftop terraces. Circus West residents will also have access to a 5,000sq ft private Residents Club designed by David Linley – this club will have a bar, private dining space, library, business centre and a cinema.
The practice originated from a shared belief in the power of high quality design to lead the regeneration of post-industrial cities and initiate new contemporary architectural identities.
While the success of its completed work and a growing reputation for design integrity has allowed the practice to expand, its founding partners remain personally involved in each project. Consequently, the inspiration in design and the attention to detail in construction that have stimulated the achievements of the practice so far will continue to guide the ambition and quality of its schemes in the future.
Source: www.batterseapowerstation.co.uk London, 9 January 2013.
11/01/2013 01:52 by Buildington
The Mayor of London, Boris Johnson, has welcomed news that the Joint Administrators controlling Battersea Power Station have chosen a preferred bidder to acquire the site with the potential to deliver major economic growth to the capital now and in the future.
The Joint Administrators, Alan Bloom & Alan Hudson, partners at Ernst & Young LLP have accepted a joint bid by Malaysian property developers S P Setia Berhad and Sime Darby Property Berhad and entered into an exclusive agreement to take forward detailed negotiations towards a timely sale of the site and associated land by early July.
This famous and iconic landmark has languished for decades, exchanging hands many times, holding up development and regeneration of the wider Vauxhall and Nine Elms district, identified as one of the Mayor's key Opportunity Areas for growth.
Crucially these developers are committed to the construction of a new underground station as part of the proposed extension of the Northern Line. This is vital to unlocking the potential of the capital's newest district to create thousands of new jobs.
The Mayor of London, Boris Johnson, said:
"I believe we see light at the end of the tunnel in the sorry saga that has dogged this great landmark for decades and the surrounding area.
"There is still detailed work to do but this is an encouraging step forward. In particular the firm commitment on the table to invest in the vital new transport link will drive the regeneration of this important corner of the capital that has been neglected for so long."
09/06/2012 04:29 by Buildington
Following an extensive global marketing campaign, undertaken by Ernst & Young Real Estate Corporate Finance and Knight Frank LLP, the Joint Administrators are pleased to announce that on Wednesday 6 June 2012 they entered into an exclusivity agreement with SP Setia and Sime Darby and are working towards a timely exchange and completion of the site and associated land.
Source: Knight Frank
07/06/2012 19:16 by Buildington
Chelsea Football Club has confirmed that they have submitted an offer, with the property development partner Almacantar, to acquire the 39-acre Battersea Power Station site. From the statement on the Club's website:
"Battersea Power Station is one of London's most famous buildings and has the potential to become one of the most iconic football stadiums in the world.
Our joint bid was submitted in accordance with the sales process established by the Joint Administrators for the site. The process could run for a number of months.
We are not the only interested parties and there is no certainty that we will be successful. We also appreciate that we have many significant hurdles to address if we are to build a new stadium on the site, including winning the support of our fans, the CPO shareholders and local Wandsworth residents, as well as securing the approval of Wandsworth Council, the Greater London Authority and heritage authorities. We must also stress that making an offer for the Battersea Power Station site does not mean the club has made a definitive decision to leave Stamford Bridge.
Working with architects and planning experts we have developed a plan to preserve all the significant aspects of Battersea Power Station. The four iconic chimneys and wash towers along with the Grade II* listed west turbine hall and control room will be restored and retained in their original locations and provide a unique architectural backdrop to a world-class stadium with a capacity of around 60,000 seats.
Following feedback from fans, our initial plans include a 15,000-all seated one-tier stand behind the south goal, likely to be the biggest one-tier stand in football. Also as suggested by many fans, the stadium proposed is rectangular in shape with four separate stands. The design includes a bigger family area and more room for disabled supporters.
As well as a new home for our club, the development would include a town centre with substantial street-level retail shops, affordable housing and offices - all of which would benefit Wandsworth and bring a significant number of permanent jobs to the area. We would also make a significant contribution towards the Northern Line Extension, a new high-volume transport link proposed for the area."
Source: www.chelseafc.com 4.5.2012
08/05/2012 01:38 by Buildington
Abu Dhabi and Qatar are among a number of potential investors who have expressed interest in bidding for the Battersea power station - ArabianBusiness.com http://www.arabianbusiness.com/qatar-abu-dhabi-in-bid-for-iconic-london-power-station-report-450492.html
19/03/2012 14:33 by Buildington
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.
27/02/2012 11:52 by Buildington
Battersea Power Station site would be worth an extra 470 million pounds to a developer who could demolish the protected landmark building itself, according to calculations done for Reuters by property consultancy EC Harris.
Read more here: http://www.reuters.com/article/2012/02/15/batterseapowerstation-idUSL5E8DD12520120215
16/02/2012 01:50 by Buildington
Wandsworth Council officials have told the administrator to the Battersea Power Station redevelopment that they want plans for the site to remain unchanged, protecting the building and tens of thousands of jobs.
- Reuters http://www.reuters.com/article/2011/12/19/uk-battersea-idUSLNE7BI03P20111219
26/12/2011 13:14 by Buildington
The developer of Battersea Power Station was put into administration by a judge after the owners failed to repay senior lenders owed more than 500 million pounds ($781 million).
Judge Geoffrey Charles Vos in London granted a request by creditors led by Lloyds Banking Group Plc and Ireland’s National Asset Management Agency to appoint an administrator to sell the site on Monday. The creditors will try to recover the entire 502 million pounds owed by the project’s owners by selling the site or the debt.
Ernst & Young has been appointed as the administrator for investment companies of Real Estate Opportunities Plc including REO Power Station Ltd. and REO Site Assembly Ltd.
Read the full story by Bloomberg http://www.businessweek.com/news/2011-12-13/battersea-power-station-put-into-administration-by-london-judge.html
14/12/2011 14:12 by Buildington
White Elephant for Sale in London, Again http://www.nytimes.com/2011/12/10/business/global/londons-battersea-power-station-for-sale-again.html
10/12/2011 13:34 by Buildington
Lloyds and Ireland's National Asset Management Agency have demanded the repayment of £324m of debt from the developer and owner of the site Real Estate Opportunities by 12th of December or face administration proceedings in the High Court.
Read more: Administrators lined up to take control of Battersea Power Station http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8926900/Administrators-lined-up-to-take-control-of-Battersea-Power-Station.html
06/12/2011 12:24 by Buildington
Malaysian property company SP Setia is considering whether to make a new offer for Battersea Power Station to lenders after an initial £262m bid was rejected. Read the story in The Telegraph: http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8914188/Malaysians-plot-new-Battersea-Power-Station-bid-after-Chelsea-Football-Club-reveals-interest.html
26/11/2011 23:10 by Buildington
Roman Abramovich is said to be in talks to take control of the Battersea power station site http://www.thisislondon.co.uk/standard/article-24012167-roman-abramovich-plan-for-battersea-site.do
22/11/2011 12:18 by Buildington
The Irish owners of Battersea Power Station say they are in the "final stages" of talks with potential investors in the site and are "absolutely committed" to £5.5bn redevelopment proposals. Read the full story in The Telegraph http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8850141/Battersea-Power-Station-owner-absolutely-committed-to-5.5bn-redevelopment-plan-for-historic-landmark.html
30/10/2011 14:55 by Buildington
Real Estate Opportunities is looking to sell a 50pc stake in the power station in order to fund a £5.5bn regeneration project but progress has been delayed and it faces August 31 maturities on more than £400m of debt.
Lloyds Banking Group is understood to have appointed E&Y to review the sales process and also provide insolvency advice. The bank, alongside Ireland's National Asset Management Agency, has a £260m facility secured against the scheme due to expire on August 31.
Source: The Telegraph http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8712155/REO-seeks-to-sell-50pc-stake-in-Battersea-Power-Station.html
22/08/2011 13:14 by Buildington
The Qatari royal family is set to add Battersea Power Station to its London property collection alongside Harrods, Chelsea Barracks and the One Hyde Park apartments in Knightsbridge, reports Evening Standard.
The property arm of the Gulf emirate is in "advanced" talks with the struggling Irish owners of the Grade II* listed industrial icon about a rescue deal that would see it take a 50 per cent stake.
The negotiations between Qatari Diar, which is controlled by the gas-rich state's ruling family, and REO are said to have progressed well although there is still no confirmed deal.
Read the full article: http://www.thisislondon.co.uk/standard/article-23944382-qatari-royals-poised-to-help-save-pound-55bn-battersea-scheme.do
28/04/2011 01:02 by Buildington
De Rijke Marsh Morgan dRMM Ian Simpson Architects have won the competition to design the first phase of the Battersea Power Station redevelopment.
16/02/2011 14:47 by Buildington