The ongoing development around Battersea Power Station has been boosted with new finance to develop a further 16 acres of the site.
Client Battersea Power Station Development Company this week secured a £280 million refinancing loan to support completion of the riverside site.
The corporation recently submitted a revised masterplan by Studio Egret West for the undeveloped land, which includes 3.2 million sq ft of residential, commercial and leisure space.
Contractor Sisk started work last month on Prospect Place South, two new Gehry Partners-designed buildings which include around 300 new homes, 65,000 sq ft of commercial space for shops, cafes and restaurants, and a community hub.
Planning permission has also been granted for 200 new high-quality council homes to be delivered in partnership with Wandsworth Council as part of the council’s Homes for Wandsworth programme. Construction is expected to begin in early 2027.
Battersea Power Station Development Company chief financial officer Chee Seng Siew said: “Against a quieter property market, the continued support from our lenders reflects confidence in the transformation achieved so far, from the restoration of the once derelict Grade II*-listed Power Station to the creation of a thriving riverside neighbourhood, and the opportunity that lies ahead.”
