Battersea Power Station rakes in RM2.5b residential sales in 2022 

It demonstrates the significant demand for living at the new riverside neighbourhood, says CEO

THE Battersea Power Station achieved £480 million (RM2.55 billion) in new residential sales in 2022 — along with a further £1.1 billion worth of apartments completed and handed over — as the community grew to over 2,500 residents. 

In a statement today, Battersea Power Station Development Co (BPSDC) said the sales of the central London mixed development were achieved in the same year the power station opened to the public following a transformational eight-year restoration.

CEO Simon Murphy said the sales performance of the central London mixed development in 2022 demonstrates the significant demand for living at the new riverside neighbourhood.

Building on over £400 million of sales in 2021, the total residential sales for the past 24 months have come to nearly £1 billion.

“2022 was a year for the history books for the project with the opening of the iconic London landmark to the public for the first time in history, as well as the new high street, Electric Boulevard.

“Coupled with the opening of the Northern Line in September 2021, we have achieved two of the most important milestones for this new area, and as a result, we’re attracting an ever-increasing number of residents to join the vibrant community which has formed,” Murphy said.

BPS development is owned by a consortium of Malaysian investors comprising SP Setia Bhd and Sime Darby Property Bhd with 40% ownership each and the Employees Provident Fund (EPF) with a 20% stake.

The commercial assets within the power station building are directly owned by Permodalan Nasional Bhd (PNB) and EPF.

Murphy said sales were made within the power station, as well as in new architectural masterpieces by Gehry Partners and Foster + Partners, including a new collection of 204 homes launched in October 2022, named Koa at Electric Boulevard. 

Further openings will take place throughout 2023, including a 24,000 sq ft Arcade Food Hall from JKS Restaurants — which will offer a mixture of new and existing food concepts — along with three standalone restaurants and a cocktail bar. 

London fitness brand Third Space will also open a 28,000 sq ft club at Battersea Power Station, offering space for training, recovery, relaxation and nutrition. — TMR