Battersea Power Station sold for redevelopment

One of London’s most iconic buildings is set to be sold on the open market for the first time in its history.

Battersea Power Station, which has been lying empty since it was decommissioned in the early-1980s, is being sold by estate agents Knight Frank, who will be accepting bids on the site until autumn.

Although derelict, the site is sold with planning permission for a multi-billion pound development, approved by the local council in 2011. Wandsworth Borough Council approved the plans, which include residential accommodation, retail units and offices, as it included £200 million for an extension of the Tube’s Northern Line from Kennington to Battersea Power Station.

The Council also claim that the project will create 25,000 jobs, many of them permanent, as well as providing 16,000 homes for local people. Battersea Power Station’s former owner, Treasury Holdings, finalised the plan and secured approval from Wandsworth Borough Council, but the company has now decided to sell the site to a firm with more experience of these kinds of development projects.

Stephen Miles-Brown of Knight Frank is handling the sale and is excited to be selling such a landmark monument on the open market. He added that Battersea Power Station’s iconic status makes it as famous as the Eiffel Tower and that his company has already received dozens of enquiries.