Battersea Power Station Lands £280M Refinancing For Final Phases

Battersea masterplan
Bisnow/Mike Phillips
The final phase of Battersea Power Station has completed refinancing.

Battersea Power Station Development Company has secured a £280M refinancing loan to support development of the remaining 16 acres of the 42-acre riverside megascheme.

Secured from CIMB, OCBC, Maybank and Standard Chartered, long-term lenders to the project, the announcement follows the recent submission of a revised master plan designed by architect Studio Egret West for the remaining undeveloped land at Battersea Power Station.

Proposals include up to 3.2M SF of residential, commercial and leisure space, which would nearly double the scale of development delivered to date and complete the project.

Construction at Prospect Place South began in early September, and the two new Gehry Partners-designed buildings will deliver approximately 300 new homes, 65K SF of commercial space for shops, cafés and restaurants, a 15K SF Community Hub, a bike hub and the completed pedestrianised high street Electric Boulevard.

Planning permission has also been granted for 200 new council homes to be delivered in partnership with Wandsworth Council, with construction expected to begin in early 2027.

“Against a quieter property market, the continued support from our lenders reflects confidence in the transformation achieved so far,” Battersea Power Station Development Company Chief Financial Officer Chee Seng Siew said in a statement.

More than £5B has been invested in Battersea to date by the project’s Malaysian shareholders to restore the Grade II-listed Power Station; create a major new retail and leisure destination, now home to more than 150 shops, bars and restaurants; and attract more than 50 million visitors since the Power Station opened in 2022.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's London Newsletters
Related Stories

Receiver Appointed For X Denver Apartment Building Near Coors Field

Service Properties Trust Gets Surprise $2B Cash Bid For 93 Hotels

Where Occupier Fit-Outs Are Going Wrong And Why The Answer Is 70%

'Very Desirable Market': Investment Surges Across Houston's Westchase District

The VC Rebound Won't Save All Lab Real Estate

How U.S. Giant Realty Income Bought The UK And Europe

Hurricane Isaias Puts More Than $40B In Multifamily Property In Its Path

Grafton Place Scheme Comes To Market Again, Guiding At €250M

Braemar Inches Closer To Ashford Breakup With $372M Hotel Sale

Distress Divide: How Private vs. Institutional Investors Are Thinking About D.C. Office

Heitman, Andover Target Self-Storage With New Investment JV

Scottish Castle In Middle of Growing Controversy Over Data Centre Development