Battersea in jeopardy as REO push for stake sale

Plans for the regeneration and redevelopment of Battersea Power Station received a significant blow following the announcement that the primary developer is looking to sell a 50 percent share in the site. Real Estate Opportunities has confirmed it will sell the stake in order to fund the £5.5bn development project on site, confirming fears that the project was under-funded. Ernst & Young have been put in place to make the sale.

Several plans for the regeneration of Battersea have emerged – and failed – in the past decade. The most recent was masterminded by Rafael Viñoly Architects, that intends to incentivise the site through a package of developments, including an extension of the Northern Line underground to the site. If any of these elements fail it is possible the whole project could go by the way side.