Malaysians tipped to buy Battersea Power Station for £375m
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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Readers' comments (7)
Anyone who has been to malysia, will know that this is a disaster
yes......zecks, ur right. Sp Setia works only coz of the political support. make me laugh...that they claim they have experience of such complexity and similiar experience in malaysia. planning in malaysia is highly corrupted and not even 10% demanding of what we expereince here.!! .....they are good in demolishing old building. There is no convervation plan in their planning system.........
this may not be so disaster for the owner as they will get money out of the sales, but disaster for Malaysia EPF. Malaysia public money wrong and wastefully invested by SP Setia/EPF.
"they are good in demolishing old building"
Perfect... hope they get to work on this useless old ruin.
They should invest in their own cities and sort out their own domestic mess first before minding others.
"...Setia is not put off by the complexity of the site because it feels it has experience of similar projects in Malaysia."
I didn't realise there was such a similarly complex project in Malaysia.
The best thing is for the site to be bulldozed and converted to an artificial beach with palm trees and pools of water.
two days ago, the EPF denied it was involved in any bidding. now this?