Battersea Power Station expands office space area


Sime Darby Property Bhd’s Battersea Power Station has added an additional 3,716.1216 sq m of office space to its 46,451.52 sq m of the office space in the Grade II-listed power station which was pre-let last September.

In a statement yesterday, Sime Darby Property said the space — designed by WilkinsonEyre — will be set over two floors overlooking the light-filled central atrium and can accommodate up to 500 or more workers.

“Across the wider Battersea Power Station development, there is at least a further 750,000 sq ft of office space to come,” the firm announced in a statement yesterday.

“The Malaysian shareholders of the Battersea Power Station project are committed to giving back to the communities in which they operate.”

Battersea Power Station Development Co head of office leasing Andrew Hilston was quoted in the same statement as saying that the additional new space is a great chance for a single business, co-working provider or business members club to occupy the remaining office space in the power station.

“This is also a unique opportunity to become part of our new community based in an iconic building, which provides an unrivalled address,” Hilston said.

Currently, Battersea Power Station has two anchor tenants in the first phase of the project — which are Circus West and Apple Inc.

The Malaysian Reserve earlier reported that Apple is leasing about 46,451 sq m of office space at Battersea Power Station on the south bank of London’s River Thames.

The consumer electronics and software giant will move 1,400 employees to the development in 2021, which accounts for about 40% of the office space within the development.

Meanwhile, CircusWest is located alongside the western edge of the power station within a few minutes’
walking distance of Chelsea.

Upon its completion, CircusWest will host 25,000 people living and working on-site, leading to the creation of 17,000 direct new jobs and bringing about the first major extension of the London Underground system since the millennium, in a unique public-private partnership.

The Battersea Power Station in London is owned by a consortium of Malaysian investors comprising SP
Setia Bhd (with a 40% share), Sime Darby Bhd (40%) and the Employees Provident Fund Board (20%) are expected to develop it borrowing £790.2 million (RM4.33 billion) to
finance the construction of the iconic project, as well as its land refinancing.

The money was secured through a syndicated loan led by CIMB Bank Bhd as the coordinating mandated
lead arranger and bookrunner with OCBC Bank (M) Bhd, Standard Chartered Bank Malaysia Bhd and Malayan Banking Bhd as joint mandated lead arrangers.

The project, which was acquired by the consortium in September 2012 will derive an estimated gross development value of about £8 billion for a development period of 15 years.

The total net internal area of the project is approximately 6.3 million sq ft, of which close to 60% is residential.