Bid involves working with Rafael Vinoly’s consented scheme
A Malaysian developer and pension fund have emerged as the preffered bidders for Battersea Power Station.
The Employees Provident Fund and SP Setia are reported to have entered detailed negotiations with Ernst and Young and Knight Frank who are running the sale, after a previous front-runner dropped out.
The Malaysians’ bid is based on the belief it can work with the existing planning consent for the Rafael Vinoly-designed scheme.
This would see the power station retained as part of a residential and commercial scheme including 3,700 homes, 150,000sq m of offices and 45,000sq m of retail and restaurants.
BD’s sister paper Property Week reported that Setia is not put off by the complexity of the site because it feels it has experience of similar projects in Malaysia.
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