Battersea Power Station Development Company has started phase three of its major SW8 regeneration scheme.
Defying a lot of doom and gloom at the upper end of the market, the developer has started construction on 600 private homes. Phase 3b, with 700 homes, will commence in due course.
Two major plots comprise phase three. Architects Gehry Partners and Foster + Partners’ plans call for a new pedestrianised high street, Electric Boulevard, to run from the new Underground station up to the Power Station.
The Northern Line extension and the new underground station is due to complete in 2020.
A hotel, shops and restaurants are also planned.
Little more than a few homes are showing for sale through BPS Estates, the developer’s sales agency for phase three, with asking prices ranging from £575,000 for a studio, up to £1.6m for a two-bedroom homes.
So far, 600 homes have launched across phase 3a, which includes the northern end of Battersea Roof Gardens (Foster + Partners) and two of the five Gehry buildings. TfL is working across the southern end of the site with homes above the station box being phased to come later.
Simon Murphy, chief executive of Battersea Power Station Development Company, said: “Circus West Village, the first phase of the Battersea Power Station development, was completed last year and is now a thriving community home to 1,000 residents, as well as shops, restaurants and businesses, proving our shareholder’s commitment to creating a new and exciting destination for London.
“Works on both The Power Station and Phase 3 (Electric Boulevard) are progressing well. There is real momentum on the restoration of the Power Station with more than 2,000 workers on site every day.
“Residential sales and commercial leasing continue to be encouraging. Nearly 90% of apartments that we have launched have been sold, six floors of office space in the Power Station have been let to Apple and we have seen some strong interest in the Power Station retail space, which was launched in March.”
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