Battersea Power Station could be sold to the Qatari royal family as a result of ongoing discussions about the £500m site’s future
Several parties are in discussions with the site’s owner Real Estate Opportunities about a possible purchase but Qatari Diar is understood to be frontrunner.
Under the terms of an agreement struck with its creditors earlier this month, Real Estate Opportunities has until 31 August to find an investor for the project which is being masterplanned by Rafael Viñoly and includes initial schemes by Ian Simpson and dRMM.
A successful sale of the site would provide a much needed boost to the long-running project which has been on offer to potential investors since 2009. It would also mark the latest in a series of high-profile London property transactions by Qatarui Diar which also owns the controversial Chelsea Barracks project.
Plans for a £5.5 billion mixed-use development on the riverside site at Battersea were approved by Wandsworth Borough Council last year.
Last week it emerged LDA Design and Exterior Architecture had been appointed to lead the landscape design of the scheme (see below), part of the larger redevelopment ofthe 1930 Grade II-listed power station designed by Giles Gilbert Scott.