Would you spend £30m on a flat in Battersea?

Wandsworth Guardian: An artist's impression of  how the Nine Elms will look after its £8bn redevelopment An artist's impression of how the Nine Elms will look after its £8bn redevelopment

Penthouses in the new Battersea Power Station complex at Nine Elms could be sold for £30m each.

The Nine Elms redevelopment's Malaysian backers announced in Kuala Lumpur yesterday that Battersea Project Holding Comapany will start selling 250 apartments at £2,500 per square foot from April.

The company's chairman, Liew Kee Sin, said: "This is the only apartment in the UK, and perhaps Europe, that's being built on top of a power station.

"There are people who want to own a piece of the history."

The estimated price of the penthouses in the disused power station - due to be built in the second phase of construction - are to be marketed for between £25m and £30m.

The astronomical price tag is likely to fuel fears the plush apartments will only attract super-rich foreigners who want a nice view of Chelsea and Westminster.

In total 3,444 new homes will be created with just 517 affordable properties included.

In total the development will cost £8bn and developers have pledged to provide £1bn in infrastructure improvements to Battersea.

The Northern Line will also be extended to Battersea and stop at Nine Elms, which would see new shops, restaurants, a gym, pool, spa, theatre and offices.

What £30m can also buy you nowadays:

  • A 2,500 sqm chateau in northern France (with £10m to spare)
  • A Salute luxury sail yacht (56 metres long)
  • A two-bedroom suite at The Ritz for 57 years
  • Wayne Rooney (Chelsea were prepared to buy him for about £30m from Manchester United this year)
  • 50m copies of this Thursday's Wandsworth Guardian (60p where sold)

If you had the money would you buy a Battersea penthouse for £30m? Leave your comments below or email ooakes@london.newsquest.co.uk.

 

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