Next phase of Battersea Power Station redevelopment gets green light
KUALA LUMPUR: The Battersea Power Station redevelopment is moving ahead with its next phase, after receiving planning consent for the 17-hectare London site backed by a Malaysian consortium.
Battersea Power Station Development Company Ltd (BPSDC) said the newly approved phase will include residential, retail, community and leisure spaces, following approval from Wandsworth Council.
"This latest phase adds two new Gehry Partners-designed residential buildings, comprising 306 homes," BPSDC said in a statement.
The iconic site is owned by a consortium comprising Sime Darby Property Bhd with a 40 per cent stake, SP Setia Bhd with 40 per cent and the Employees Provident Fund holding the remaining 20 per cent.
The commercial assets within the Power Station building are now directly owned by Permodalan Nasional Bhd and EPF, while the project continues to be managed by BPSDC.
The upcoming phase will also feature a 15,000 sq ft community hub and is expected to create more than 400 new jobs, bringing the total number of jobs generated by the development to 6,800.
Construction is scheduled to begin later this year with completion targeted for 2029.
To date, over 2,200 homes have been delivered, and more than 3,000 people now reside within the Battersea Power Station precinct.
The development also supports a growing office community, with more than 3,500 employees from companies including Apple, SharkNinja and IWG.
Battersea Power Station is part of a broader regeneration programme spanning 42 acres along the River Thames.
Once completed, the project is expected to deliver over 20,000 jobs, 4,000 homes, and 19 acres of public space.
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