Real Estate Opportunities announced today that it has awarded Cushman & Wakefield the exclusive global mandate to secure funding for the redevelopment of Battersea Power Station, London. The 40 acre scheme is one of the largest and most eagerly anticipated in the UK and will redevelop the last significant piece of largely unused land in central London. With a redeveloped Battersea Power Station at its heart, the mixed use scheme will comprise around 8.3 million ft² (approx. 769,000 m²) of retail, offices, leisure and residential.
Architect Rafael Vinoly has led the masterplanning process and in February the government's architecture and urban design agency, The Commission for Architecture and the Built Environment (Cabe), praised the "intelligent" design.
The scheme has also won huge support from members of the public. An exhibition of the plans submitted to Wandsworth Council at the end of 2009 received support for the overall masterplan from 82% of visitors. 90% were also supportive of the design and 97% supported the proposed extension to the London Underground network which would involve a new spur from Kennington with Tube stations at Nine Elms and Battersea Power Station. Treasury Holdings is expecting a decision on planning permission from Wandsworth Council later this year.
Cushman & Wakefield has brought together a cross sector team including retail and office agency, capital markets and financial services, residential and central London development. C&W will target investors throughout the Americas, EMEA and Asia Pacific through its global network and will commence its marketing campaign in earnest during late Spring/early Summer.
Rob Tincknell, Managing Director of Treasury Holdings, the investment manager of Real Estate Opportunities, said: "We are very pleased to have Cushman & Wakefield on board. We are busy at the moment preparing for more detailed discussions with potential investors which will take place once we are closer to securing planning permission. We are extremely confident that the location, scale and nature of the project will attract global investors."
Source: C&W
