The Battersea Power Station in London. — NICK FEWINGS/Unsplash
LONDON: Exactly two years ago today, the then Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah launched London’s biggest redevelopment project South of the Thames, the Battersea Power Station.
This iconic landmark, with the twin giant smokestacks, is instantly recognisable but had fallen into disrepair. In fact, this project was once considered an insurmountable challenge to redevelop with many saying it couldn’t be done.
Three decades worth of developers from across the globe thought they could reverse the Power Station’s fate, proposing radical plans from a theme park to a Cirque du Soleil venue, a football club, and even a 300-metre “eco-dome”.
As each scheme failed, so did hopes that anyone could ever transform this ‘cathedral of power’ from a crumbling array of bricks to a thriving destination for the public.
Now visiting the neighbourhood today, two years after the Power Station finally opened in October 2022, it is hard to picture its chequered history.
The flourishing 42-acre estate, anchored by the mighty Power Station, feels like it has always been a global destination and an established part of London.
More than 23 million people have visited this iconic landmark in the past two years to marvel at its transformation by the Malaysian consortium comprising of Permodalan Nasional Bhd, Sime Darby Property Bhd
, S P Setia Bhd and the Employees Provident Fund.
The resilience of these Malaysian companies to have undertaken this development through Brexit and Covid-19 is amazing.
This consortium weathered these storms in a foreign land, a reflection of Malaysian grit.
The historic turbine halls now burst with British and international brands designed to appeal to all types of visitors, sitting harmoniously alongside the building’s remarkable architecture.
Thriving destination
Battersea Power Station is a place for everyone with families, shopping enthusiasts and foodies being particularly attracted to the destination given the unique mix of brands, activities and restaurants on offer.
International visitors are also discovering this new thriving spot with Malaysians enjoying the ambience alongside Americans, Europeans and citizens from the United Arab Emirates and Saudi Arabia.
Major events held at Battersea Power Station, from celebrASIA, which saw a record number of visitors attending the inaugural festival last month and the Battersea Games, to the annual Light Festival, and the upcoming Christmas season, continue to bring new audiences to the central London neighbourhood, as the estate reports a 17% growth in footfall year-on-year.
Battersea Power Station’s offering of over 150 shops, restaurants, bars and leisure experiences continues to grow, with the estate averaging a new opening every month in the first half of 2024.
About 94% of the retail and leisure space is now let.
New additions joining the likes of Royal Selangor, Uniqlo and Roti King have included Mexican restaurant El Pastor, luxury health club Third Space, Santa Nata, Rocket Padel and LIPS Pharmacy and Healthcare Centre.
Coming soon is the first standalone clothing store from British institution Marks & Spencer’s and will be joined by speciality coffee concept% Arabica, Chinese restaurant Duck & Rice, soft play Macaroni Penguin and more.
A new entrance to the Battersea Power Station Underground station will also open in Spring 2025, following the launch of the Northern Line Extension in September 2022, which transformed the connectivity of the neighbourhood to the rest of Central London.
Given the increasing concerns about security and welfare in the United Kingdom’s capital, Battersea Power Station is a haven where visitors can enjoy what’s on offer without having to worry about their safety.
The estate being under a single ownership means a dedicated security team oversees the whole area, ensuing the environment is welcoming and safe for visitors and residents alike.
Setting standards
StarBiz caught up with Don O’Sullivan, the chief operating officer of Battersea Power Station Development Company (BPSDC) recently.
“I firmly believe Battersea Power Station has set a new standard for regeneration projects in the United Kingdom, if not the world.
“This carefully curated town centre represents the future of city and town planning, establishing a new mixed-use neighbourhood which combines extensive retail, leisure, hospitality, residential and office spaces, to attract millions of visitors from London and all over the world,” he said.
“Many visitors comment specifically on the feeling of safety and security at Battersea Power Station.
“Through both careful design and considered estate management, and particularly prioritising expansive public realm and green spaces, we have created a truly relaxing environment where people want to spend the day.”
Battersea Power Station is a welcome escape from the hustle and bustle of much of Central London, whilst providing a varied mix of amenities that bring a buzz to the neighbourhood.
“It’s hard to believe but we are only halfway through the development of the 42-acre site so there is still lots more to come over the next decade or so.
“The sense of belonging and community we have created here have been instrumental to the project’s success to date, and we will continue these principles in the remaining phases of the development,” he added.
O’ Sullivan said Battersea’s success has been mirrored across its recent residential sales and office leasing.
An impressive £65mil (RM365mil) of residential sales were made in July and August 2024 alone, whilst 42,500 sq ft of office space has been leased at 50 Electric Boulevard, a new state-of-the-art workspace.
This year, Battersea Power Station was recognised as one of the world’s top cultural hotspots by National Geographic and awarded a gold certification by GreenRE.
As Battersea Power Station continues to evolve, there are plans to increase the breadth of leisure and hospitality options, such as an exciting new exhibition space due to open in 2025, and further store openings.
Approximately half of the Battersea Power Station masterplan remains to be delivered, with outlining planning permission granted for a further 2,000 homes, significant commercial space and public realm.
Realistically, the project has further to go but the heavy lifting has been done.
It will take time for the Malaysian consortium to reap profits, but looking at what has been achieved so far, it is undeniable that the Malaysian developers understand the key ingredients to create a thriving, new towncentre, and other developers would be wise to take note to replicate its success around the world.
