Malaysian group pay £400M for site, ruining Chelsea's new stadium plans
BATTERSEA POWER station has been sold to Malaysian developers SP Setia and Sime Darby in a £400 million deal that could help create 25,000 jobs.
Following the outline of the most recent failed regeneration scheme, SP Setia and Sime Darby's plans for the 40 acre site include the iconic chimneys, 3,400 homes, plenty of shops and a new Northern Line Tube station.
But what might be good news for south London is bad news for Chelsea FC, which failed in its own bid for the site. The Champions League winners had planned to put up a 60,000 capacity stadium, but were evidently outbid by SP Setia and Sime Darby.
"We're making tremendous progress towards transforming this old industrial stretch of the South Bank which will provide up to 25,000 new jobs for London," said Wandsworth Council leader Ravi Govindia.
"It's important that this site and its iconic building are not left behind and that a developer is brought in who understands our vision for the new Nine Elms."
What do you think should be built on the Battersea Power Station site?
Have your say on this post via Reddit, Facebook (see panel below) or on our Comments box below.
imgur photos by truckerdave