Battersea Power Station bids to be made in early 2012


Chelsea owner Roman Abramovich and others interested in buying Battersea Power Station are set to be invited to submit bids in early 2012.


By John Nassoori

Chelsea owner Roman Abramovich and other parties interested in buying Battersea Power Station are set to be invited to submit bids for the site early in 2012.

Administrators Ernst and Young expect to be in a position to welcome offers for the Grade II-listed building at the start of the New Year, but warned that it could take nine months to complete the sale.

Wandsworth Council is fighting to include two new Northern Line stations as part of any plans for the 55-acre site, in order to create an anticipated 25,000 jobs in the Nine Elms district.

“This is one of the biggest opportunities in the Nine Elms,” said Wandsworth Council Leader Ravi Govindia.

“We are excited about the prospects for this prominent site and look forward to working with Ernst & Young as they seek a buyer with the commitment to take this forward.”

The council must approve the redevelopment of the 78-year-old power station, which once again stalled after four companies – all part of previous owners Battersea Power Station Shareholder Vehicle Ltd – were placed into administration on 12th December.

This marked another low point in efforts to transform the site, which was once touted as a base for circus act Cirque du Soleil.

Mr Abramovich declared a renewed interest in the power station after supporters blocked his attempt to buy the freehold for Stamford Bridge, Chelsea’s current ground.  

However, the Russian billionaire maybe deterred from trying to turn the Nine Elms site into a football ground by the prospect of a protracted planning process.

Other possible buyers of Battersea Power Station include property companies British Land, Capital & Countries, Development Securities and Malaysian-based SP Setia.


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