Nine Elms: London's new business and diplomatic quarter?
7:50am Saturday 28th March 2009 in News
A new Tube station at Battersea is the key to making Nine Elms a successful international business destination, more than 300 business leaders heard last Monday.
The area could also become London’s new diplomatic quarter as embassies worldwide seek to follow the US to the area.
Property investors and politicians were also at Battersea Power Station for the launch of Wandsworth Council’s, Nine Elms - central London’s biggest regeneration area.
The council’s plan to promote the area - which straddles the 450 acres between Vauxhall and Battersea Park - is designed to attract investment over the next 10 years and beyond.
And, despite the recession, Nine Elms - because of its proximity to Westminster, riverside location and transport links - remains attractive to companies worldwide.
Vital to the investment is plans for Battersea Power Station site, which includes a privately funded extension of the Northern Line linking Nine Elms - which would be the first privately financed extension in the history of the Tube.
The National Grid and Covent Garden Market Authority and other property developers have plans to develop land in the area.
Speaking at the launch Wandsworth Council leader Edward Lister said: “Nine Elms represents London’s biggest, most exciting regeneration opportunity.
"There is huge interest in the area’s potential as a new international business district and as place when people can live, work and enjoy their leisure.
"The work we are doing today will ensure that Nine Elms is well-placed to attract new investment in the future.”
Rob Tincknell, managing director of Treasury Holdings, the company behind the power station plan, said: “Sustainability and the creation of great new places will come to define the regeneration of the Nine Elms corridor.”
Last October the US Government said it would be moving to Nine Elms and representatives from another 10 embassies, including Switzerland, were at the launch.
To view the council’s plan visit wandsworth.gov.uk/nineelms.