PETALING JAYA: Battersea Power Station Development Company (BPSDC) Ltd has secured a 280 million pound (RM1.57 billion) refinancing facility to fund further development of the remaining 15.9 acres (6.4 hectares) of the 42-acre riverside neighbourhood in London.
BPSDC said the facility reflected lenders’ confidence in its track record, commercial performance and readiness to proceed with the next phases of development.
"The continued support 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," BPSDC CFO Siew Chee Seng was quoted as saying by Bernama today.
The company said it recently submitted a revised master plan for the remaining undeveloped land.
Studio Egret West, a master planner, urban designer and landscape architect, has also proposed up to 3.2 million sq ft of residential, commercial and leisure space, nearly twice the amount of space developed to date.
BPSDC said work was also progressing on Prospect Place South, which will comprise about 300 housing units, 65,000 sq ft of commercial space and a 15,000 sq ft community hub.
Planning permission has been granted for 200 council housing units in Phase 5, which will be offered at social rent levels. Construction is expected to begin in early 2027.
Battersea Power Station is part of a broader regeneration programme spanning 42 acres along the Thames. Once completed, the project is expected to create over 20,000 jobs, 4,000 homes and 19 acres of public space.
The wider development is owned by a consortium comprising Sime Darby Property Bhd (40%), SP Setia Bhd (40%) and the EPF (20%). Commercial assets within the power station are directly owned by Permodalan Nasional Bhd and EPF.