Londoners get their first chance tomorrow to buy a home at Battersea Power Station with prices ranging from £338,000 for a studio to more than £6 million for a penthouse.
The first 800 homes sold in the £5 billion redevelopment of London’s most famous industrial building will be a mix of studios, one, two and three bedroom apartments, family townhouses and penthouses.
There is expected to be intense interest in the sale after “many thousands” of potential owners from countries as far flung as Borneo and Brazil registered with the developers.
Studios start from £338,000, one beds from £423,000, two beds from £613,000, three beds from £894,000 and the eight townhouses from just over £3 million.
The nine penthouses with sweeping views of the Thames and central London and large rooftop terraces start from £6 million but are subject to indvidual negotiation and some may fetch for far more.
Buyers will be asked to put down a £2,500 booking fee and pay 10 per cent within four weeks. A further 10 per cent has to be handed over with a year and the homes will be ready for occupation by 2016.
The first wave of homes are priced at £1,125 per square foot, in line with other luxury riverside developments in central London but higher than most comparable schemes south of the river.
They are in a block called Circus West immediately to the west of Sir Giles Gilbert Scott’s grade II* listed masterpiece.
All the apartments will have enclosed “winter gardens” with access to all year round outside space and there will be a David Linley designed residents’ club and spa.
Work on the £500 million restoration of the decaying power station building, which has been an empty shell since it was decommissioned in 1983, will begin in the summer and last for about 18 months.
Read More
The most prestigious homes in the whole scheme - large three and four bedroom rooftop apartments on the roof of the power station building- will be sold at big premiums to the other properties on the 39 acre site.
Rob Tincknell, chief executive of Malaysian owned Battersea Power Station Development Company, said they would “absolutely stunning and unique in the London market.”
The restoration work will involve the removal of the badly corroded chimneys and replacement with “exact replicas” copied from the original architect drawings.
Mr Tincknell said the brick bulding, world renowned for its appearance on the cover of Pink Floyd’s Animals album would be left without chimneys “for as short a time as possible.”
After launch in London at 10am tomorrow at the new exhibition centre at the power station site Mr Tincknell is marketing the scheme in Malaysia, Singpore and Hong Kong, where there is expected to be huge demand.
