Irish developer Ballymore, which has agreed a business plan with Nama for a 2.6m sq ft Nine Elms scheme, last night secured permission for the project.
The Terry Farrell & Partners-designed 15-acre scheme for Embassy Gardens – the area of land around the new US Embassy- comprises 650 homes and a supermarket, which Ballymore will develop.
The entire scheme proposes 2,000 homes, 600,000 sq ft of offices, 100,000 sq ft of shops and restaurants and a 100-bedroom hotel.
Elsewhere in Nine Elms, attempts are being made to make the redevelopment of Battersea Power Station more viable by relaxing its listed status. English Heritage upgraded the site to Grade II* in 2007.
Nama and Lloyds took control of the station in December, appointing Ernst & Young as administrator. Knight Frank will bring the site to market in the next few months.
joanna.bourke@estatesgazette.com
