15 June 2017

Property Company of the Year

Battersea Power Station has been awarded “Property Company of the Year” at the Evening Standard’s Business Awards 2017 following an exciting year which saw Apple confirmed as a future office tenant in the Grade II* listed building and the first residents moving into their homes in the development’s first phase, Circus West Village.

Beating off strong competition from property heavyweights Land Securities, Grainger and Berkeley Group, the award was presented yesterday evening at a ceremony with George Osbourne at the Banqueting House in Whitehall, hosted by Kirsty Wark.

The award was judged by a panel of industry experts (including the likes of George Osborne, Anya Hindmarch and Antonio Simoes) who praised the development company for getting the Power Station project off the ground after over 30 years of the historic building lying derelict:

“This summer the rebuild of Battersea’s four iconic chimneys is completed, marking the first tangible signs of its regeneration in more than 30 years after its vast boilers went cold.  With over 4m sq ft under construction, Battersea Power Station has embedded itself within the community it serves through pioneering initiatives such as the creation of a Community Choir, through to school engineering clubs and a bespoke training academy.  Apple has signed as an anchor tenant, and no doubt other prestigious media and arts companies will follow their lead.

Besides new shops, restaurants and office space, 20,000 new homes will be built.  There will also be a six-acre public park, a town square and a major extension to the tube line”.

The award comes at a pivotal time for the development as it prepares for the official launch of its first phase, Circus West Village, later in the year. The launch will mark the opening of the first shops, restaurants and riverside bars alongside the recently opened Village Hall, a new multi-use venue in South West London.

After 30 years in which the central London former industrial site lay derelict, it was bought in 2012 by a consortium of Malaysian shareholders: SP Setia, Sime Darby and Employees Provident Fund (EPF). Restoration of the historic building and regeneration of the wider 42 acre site formally began in 2013. 

There are presently over 3,000 people working on-site and on completion, a further 17,000 jobs will be created.  Work is now underway on tunnelling for the Northern Line Extension which is expected to be operational in 2020, at the same time as the restored Power Station and new riverside park open to the public.

Commenting on the award, Rob Tincknell, Chief Executive Officer at Battersea Power Station Development Company said:

“This award is a fantastic recognition of all the hard work the Battersea Power Station team has achieved to date in bringing this former derelict industrial site to life again and contributing to the wider regeneration of the area.

From the reconstruction of the famous landmark chimneys, to the creation of thousands of jobs and homes and the establishment of a new community hub, The Village Hall, the Power Station will continue to create a wealth of opportunities within the Wandsworth borough and beyond.”