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Battersea Power Station secures £280M refinancing for remaining 16 acres
The financing, from lenders including CIMB, OCBC, Maybank and Standard Chartered, is intended to fund the next phase after a revised master plan submitted by Studio Egret West.
Bisnow reports that Battersea Power Station Development Company has completed refinancing for the project’s final phase, securing a £280M loan to support development of the remaining 16 acres of the 42-acre riverside megascheme.
The long-term financing comes from CIMB, OCBC, Maybank, and Standard Chartered, and it follows the submission of a revised master plan for the undeveloped land designed by architect Studio Egret West.
Under the proposals, the remaining area could add up to 3.2M square feet of residential, commercial, and leisure space, nearly doubling development delivered to date and completing the project.
Construction at Prospect Place South began in early September, with the Gehry Partners-designed buildings set to deliver about 300 new homes and 65K square feet of commercial space, and planning permission granted for 200 council homes with construction expected to start in early 2027.