Unsupported browser

For a better experience please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Battersea Power Station owner bags loan deal

  • Comment

The company behind the Rafael Viñoly-masterplanned £5.5 billion redevelopment of Battersea Power Station has reached an agreement to defer payments on its loans until next year

Real Estate Opportunities (REO) in 2006 bought the 6 hectare site for 600 million Euros, borrowing some money from the Bank of Ireland.

At the time of purchase the company issued £150 million worth of ‘loan notes’ to the previous owner Victor Hwang. Today’s agreement means REO can defer all repayments on this loan until May 2011.

REO’s proposal to redevelop the deteriorating Grade II* Listed brick structure and build 3,700 homes on the site is expected to go before Wandsworth Council’s planning committee in early November.

Planners have yet to issue their recommendations but CABE and English Heritage support the application.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.