£8bn Battersea plans launched

26 July 2012 Plans for an £8bn investment in London’s Battersea Power Station have been unveiled by the building’s owners.
SP Setia, Sime Darby and the Employees Pension Fund of Malaysia expect the initiative to create 20,000 construction jobs and 13,000 permanent jobs by redeveloping the site in south London to turn it into a retail and residential area.

Homes, offices, retail space and a hotel will take over the site – with the iconic towers remaining in place – and as part of the deal, Transport for London will work to extend the Tube network to the area.

Under the plans, an extension to the Northern line will be built and the project will provide a major test bed for a tax increment financing-style funding mechanism.

Under this approach, London’s transport agency will seek to borrow capital from the private sector, which will be paid back through the increased taxes being generated once the development is up and running.

This page was last updated on:
26 April 2017.

thumb

Here we go again

UK Prime Minister Theresa May’s decision to call a General Election creates further uncertainty and delay – just as the country’s infrastructure market thought it might be getting somewhere

thumb

World View

Laurence Carter, senior director of the World Bank’s PPP group, tells Amanda Nicholls about a new culture of collaboration between the development agencies

register

Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...