Battersea development ‘key to unlocking growth’
Thousands of jobs will be created through the development of listed Battersea Power Station and its associated rail link, according to Prime Minister David Cameron.
The project, which Mr Cameron said would “protect the towers of that iconic landmark”, will create 20,000 construction jobs and 13,000 permanent jobs when the work has been completed, telegraph.co.uk writes.
Regeneration work to start next summer
The power station was sold last month to a consortium led by Malaysian firm, SP Setia for £400 million. The group hopes to start work as early as next summer, which will comprise 3,500 homes, a hotel and 1.7 million sq ft of office space.
While actual specifications have not yet been disclosed, it is possible that the properties could incorporate energy efficiency features, such as solar panels, rainwater harvesting and insulating cladding panels.
The iconic towers to be left intact
It is thought the total budget for the development – which will leave the towers intact – could reach £8 billion, says constructionenquirer.com. This includes £200 million for a two-station extension to the Northern Tube line.
Unlocking billions of growth
Commenting on the project, Wandsworth Council leader, Ravi Govindia said:
“The Tube link is the key to creating 25,000 jobs and unlocking billions of growth across the wider Nine Elms area which is much bigger than just the power station site alone.”
“Today’s announcement puts this vital infrastructure project on an even stronger footing and we’re delighted the new owners expects to get underway so soon.”
Author: Elizabeth Smythe Date Written: 27 July 2012