Battersea Power Station redevelopment plans approved

Battersea Power Station redevelopment plans approvedWork will soon be underway to transform Battersea Power Station into an exciting new residential area after detailed plans for the redevelopment were approved.

Wandsworth Council's planning applications committee gave the first phase of the £8 billion project the green light on December 13th.

This means the construction of two new buildings on the land to the west of the iconic building can begin in 2013, creating 800 new homes as well as cafes, restaurants and leisure facilities.

A six-acre public park will also be built on the bank of the River Thames, adding to the green spaces already enjoyed by those living in the local area.

Wandsworth Council's planning chairman Nick Cuff said: "This project will restore one of London's most iconic landmarks and create the first segment of a remarkable new town centre on the Thames riverside.

"The site's vast empty spaces will be gradually brought to life with new homes, a riverside park and a new commercial centre supporting hundreds of jobs."

property to rent in Battersea has always been highly attractive given the district's proximity to Central London and the many amenities on offer, and it is likely to become even more desirable once the Battersea Power Station project gets underway.

But it's not just this particular development that will boost Battersea's appeal, as it is one of 27 sites earmarked for regeneration in the Nine Elms area along the South Bank.

Together these sites make up two million square metres of new development and will deliver up to 16,000 new homes, the first 1,000 of which are already under construction.

The extension of the Northern Line from Kennington to Nine Elms through Wandsworth and Battersea will be at the heart of these new communities.

In his Autumn Statement chancellor George Osborne said he had agreed a loan of up to £1 billion to fund the extension. It will be repaid through a tariff of private development projects and future growth in business rates.

Posted by Charles Mackay
 

Published 17th December, 2012

© 2012 Estates IT Limited

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