28 February 2018

Power Station Partners With Peabody on Affordable Homes

Battersea Power Station and Peabody are pleased to announce that they have entered into a
strategic partnership to deliver the first 386 affordable homes at the Battersea Power Station

Peabody was carefully selected to partner with the developer following the consideration of
several government registered providers due to their detailed knowledge and expertise in
providing this type of housing.

These affordable homes will be delivered for the local community three years earlier than
required in the masterplan, with preliminary works beginning this year, and should be ready
for local residents to move into in 2020. Patel Taylor is the appointed architect on this phase
and the design of these new buildings ranging from one to four bedroom properties will
echo the style of London’s grand redbrick mansion blocks. All homes will have private outdoor
space – balconies, terraces access to private residents’ garden and 98 per cent will be dual aspect.

The development is expected to include a new £13 million NHS medical centre as well as
workspaces for start up businesses. The homes will be a mix of shared ownership and
affordable rent. The rented homes will be significantly discounted from market rate and there
will be homes available on a part rent, part buy basis.

These are the first 386 affordable homes that Battersea Power Station is committed to
delivering with a review mechanism due to take place nearer completion to confirm the final
number of affordable homes to deliver.

The Malaysian shareholders of the Battersea Power Station project are committed to giving
back to the communities in which they operate. They recognise the importance of creating
shared value and this is embedded in all their undertakings to ensure that they contribute to
building a harmonious and caring community.

To find out more about affordable homes at Battersea Power Station, please register on the
Battersea Power Station website at: www.batterseapowerstation.co.uk/affordablehomes

Brendan Sarsfield, Chief Executive of Peabody, said:

“The regeneration of Battersea Power Station is an iconic scheme for the capital which we are
pleased to be a part of. This collaboration will be an important part of the 2,500 new homes
we are building each year. These top quality, genuinely affordable homes will be on the
doorstep of the new Northern Line tube station, making it a hugely desirable place to live and
work. The traditional mansion block designs, with a courtyard and spaces for children to play,
will be a great addition to the Nine Elms neighbourhood.

“We look forward to working with Wandsworth Council, Battersea Power Station Development
Company and the GLA as the scheme progresses.”

Rob Tincknell, Chief Executive Officer at Battersea Power Station Development Company, said:

“We believe Peabody are one of the best in class when it comes to providing and looking after
affordable homes so we are confident this partnership will ensure the local community benefits
sooner than we originally promised and can enjoy the high standards of accommodation they
rightly expect.

“The team at Battersea is committed to building a strong and diverse community across the
whole development along with ensuring the surrounding areas benefit too via new facilities
such as a new NHS medical centre, children’s play area and affordable workspaces. This sits
alongside the ongoing wider investment in the area such as the Northern Line extension to
Battersea and creating thousands of new jobs.

“We look forward to starting works on these homes with Peabody and encourage locals to
register to become part of the Battersea Power Station community.”

Cllr Ravi Govindia, the leader of Wandsworth Council, said:

“This is an important announcement as part of the wider Nine Elms regeneration project, which
is bringing 20,000 new homes and 25,000 permanent jobs to the area. Wandsworth Council
has been involved with Peabody on many different projects over several years and we are
pleased to be working alongside them again.

“As you can see with this new NHS medical centre, children’s playground and these first 386
affordable homes, this is a scheme that will improve the quality of life of our residents and
offer up opportunities for those who need them the most.

“I’m delighted to see these hundreds of new homes being delivered at affordable prices and
it’s also pleasing that four bed homes are going to be available for local families who may be
struggling to find accommodation in the difficult housing market climate.