Hong Kong buyers to be offered Battersea Power Station flats

Consortium will offer Chinese city's buyers the chance to snap up apartments in first phase of Battersea redevelopment in the heart of London

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Plans for Battersea Power Station on the banks of the Thames include apartments, restaurants, shops and office space. Photo: SCMP

Published: 12:00am, 2 Jan 2013Updated: 10:32am, 2 Jan 2013

Hong Kong property investors will be offered an opportunity to buy apartments at the Battersea Power Station redevelopment project in London later this month.

A consortium of two Malaysian firms, Sime Darby and SP Setia, and the Malaysian government's Employees Provident Fund, owns the 15.4 hectare site in south London. It has set up the Battersea Power Station Development Company to develop this mixed-use project.

Using a masterplan drawn up by the site's previous owner, Treasury Holdings, the developer wants to construct 3,500 homes and transform the derelict power station into a mixture of offices, retail, cultural and leisure facilities, including hotels.

The first phase of development will include 800 apartments on the western side of the site, sandwiched between a railway line and the power station.

Final planning permission from Wandsworth Borough Council was granted for these homes on December 14, and they will be offered to Hong Kong buyers later this month.

Scheduled for completion in 2016, the first phase would also include a riverside public park, shops, cafes, restaurants and a theatre.