LONDON: The iconic Battersea Power Station redevelopment project led by a Malaysian consortium will have a new glass chimney lift, which will offer visitors a 360-degree view of London’s skyline and is set to be one of the city’s top 10 destinations in 2021.
Battersea Power Station Development Company (BPSDC) chief executive officer Simon Murphy said the project will also be complemented by the all-new Zone 1 London Underground station on the Northern Line and Thames Clippers River Bus which has been running since last year.
“We are expecting to open in the first half of 2021, and it is expected that 40 million people will visit the area per annum,” he said in a media interview.
He added that the lift will be the only one in the London area to ensure that visitors have a scenic London view, and can fit 30 people at any one time.
“The lift will be 109 metres to the top of the iconic chimney and will offer visitors a breath-taking view of London’s skyline by the River Thames,” he said.
Asked about the challenges in restoring the Battersea Power Station, he said the building has its own history and heritage value in the hearts of the people of London, hence they are doing to the best of their ability to restore its glory.
“It is not just about buildings. It is about the history and the people. The power had been out at the Battersea power station until Malaysia’s conglomerate came in, bringing life to the historical and iconic area,” he said.
The project’s owner, Battersea Project Holding Company Ltd, is owned jointly by Sime Darby Property Bhd (40 per cent), SP Setia Bhd (40 per cent) and EPF (20 per cent).
In terms of cost and investors’ confidence, Murphy emphasised that the project is expected to complete on time and there has been no cost overrun as all the materials had been procured beforehand.
“There have been concerns about the future of the project with Brexit and the cost of construction, but I can assure the shareholders back in Malaysia that there is nothing to worry about.
“Our residential units are doing spectacularly and our retail units have been in demand,” he said.
He said the commercial take-up rate for the power station has surpassed 65 per cent as it has been leased to Apple Inc and other global companies as well as co-working spaces.
As for residential units, 99 per cent have been sold in phase one, 90 per cent have been sold in the power station which is the phase two of the project, and 70 per cent have been sold in phase 3A called the Electric Boulevard.
Phase 3A, a mixed development that will be connected to the tube line, will have the biggest roof garden in London.
BPSDC has also signed a 15-year lease with Art’otel, a boutique hotel chain, which will offer a brand new insight into the Battersea area.
The 17-hectare (42-acre) development site has been divided into eight phases and has a combined gross development value of £9 billion.
“The Battersea project is on an upbeat momentum. Investors’ sentiment is solid and I can assure that the project will be a huge value to the shareholders. We are confident about the future of Battersea,” he said. – Bernama
