Battersea Power Station will deliver "massive boost" to Wandsworth's economy
2:06pm Friday 7th September 2012 in News
The leader of Wandsworth Council believes the new plans for Battersea Power Station will deliver a "massive boost" to Wandsworth's economy.
The new owners of Battersea Powers Station yesterday announced they plan to start building work in December with major construction beginning next summer.
A Malaysian consortium of S P Setia, Sime Darby and the Employees Provident Fund (EPF), has now completed the purchase of the iconic building in Nine Elms.
Councillor Ravi Govindia, who is also co-chair of the Nine Elms Vauxhall Partnership, believes the £8bn overhaul of the 39-acre site will have a huge impact on jobs and homes in the borough.
Coun Govindia said: "Today's announcement is a significant step forward in the transformation of Nine Elms on the South Bank.
"The district-wide regeneration programme will be one of the greatest sources of new jobs and homes in the country over the next few years.
"The redevelopment of the power station site has an important role to play and is key to funding the Northern Line Extension.
"This is the most exciting development in London and will deliver a massive boost to economic growth."
The plans cover a full mixed-use redevelopment of the 39 acre site; including new homes, offices, shops, restaurants and hotels as well as community, cultural and leisure facilities and have been agreed by English Heritage and Design Council CABE.
The consortium has also committed to supporting construction of the proposed extension to the Northern Line into the Nine Elms area.
Phase One of the development would consist of residential buildings containing a total of 800 homes standing above a commercial podium which will include retail, restaurants, a gym, pool, spa, theatre and office studios.
A new six-acre park, open to the public, adjacent to the river and directly linking to the 200 acre Battersea Park next-door, would form the setting for the new buildings.
Outline planning consent for the power station scheme was granted by Wandsworth Council in 2011.
A detailed application for the first phase of development is expected next month.