The £280 million refinancing loan secured from CIMB, OCBC, Maybank and Standard Chartered, demonstrates continued lender confidence in the 42-acre Battersea Power Station development.

Facility will support the next chapter of regeneration following the recent submission of a revised masterplan for the remaining 16 acres of development, construction starting at Prospect Place South and planning approval for 200 high-quality council homes delivered in partnership with Wandsworth Council.

Battersea Power Station Development Company announces today that it has successfully secured a £280 million refinancing loan to support the development of the remaining 16 acres of the 42-acre riverside neighbourhood, providing a firm financial foundation for the continued delivery of the project.

Secured from the core group of relationship lenders who have supported the development since inception – CIMB, OCBC, Maybank and Standard Chartered – the facility reflects confidence in Battersea Power Station’s delivery record, commercial maturity and readiness to progress its future phases.

This announcement follows the recent submission of a revised masterplan designed by renowned master planner, urban designer and landscape architect, Studio Egret West, for the remaining 16 acres of undeveloped land at Battersea Power Station. Proposing up to 3.2 million sq ft of residential, commercial and leisure space, the plans would nearly double the scale of development delivered to date and complete the riverside neighbourhood.

Progress is already underway on the next phase of development, Prospect Place South, with construction beginning in early September. The two new Gehry Partners-designed buildings will deliver approximately 300 new homes, 65,000 sq ft of commercial space for shops, cafés and restaurants, a 15,000 sq ft Community Hub, a bike hub and complete the pedestrianised high street, Electric Boulevard.

Planning permission has also been granted for 200 new high-quality council homes to be delivered in partnership with Wandsworth Council as part of the council’s Homes for Wandsworth programme. The new homes will be built on Phase 5 of the development and be available to local people, including families, at social rent levels. Construction is expected to begin in early 2027.

The future phases will build on the delivery of more than 2,200 homes, approximately 800,000 sq ft of offices and over 170 shops, bars, restaurants and leisure venues now open at Battersea Power Station.

Chee Seng Siew, Chief Financial Officer at Battersea Power Station Development Company, said:

“Successful regeneration on the scale of Battersea Power Station depends on patient capital and a shared belief in the long-term value a place can create. Against a quieter property market, the continued support from our lenders reflects confidence in the transformation achieved so far, from the restoration of the once derelict Grade II* listed Power Station to the creation of a thriving riverside neighbourhood, and the opportunity that lies ahead.

“Following the submission of our revised masterplan for the future phases, the start of construction on Prospect Place South and securing planning approval for 200 high-quality council homes, this refinancing loan marks another important step for the regeneration of Battersea Power Station. It provides a firm financial foundation for developing the remaining 16 acres of
land and creates sustained value for our shareholders and the wider neighbourhood.

We would like to thank our lenders and shareholders S P Setia, Sime Darby Property and the Employees Provident Fund, for their continued support as we bring forward the next chapter of Battersea Power Station.”