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The future of Battersea power station, a Grade II listed property situated on the banks of the Thames in the SW area of London, Wandsworth, has reportedly been cast in doubt again, as the property's current owner is struggling for survival against debts of £1.6bn.

Irish property company Real Estate Opportunities bought the former power station in 2006, and submitted plans for a scheme covering 1.5m sq ft of office space and 3,700 homes, along with shops, restaurants and leisure facilities. An extension of London Underground's Northern Line to the site is also in the pipeline.

Since the former power station was decommissioned in 1983, several owners have submitted plans for redevelopment - including the chairman of Alton Towers who expressed interest in creating a theme park on the site.

More recently, plans by Real Estate Opportunities originally included a futuristic design by a New York based architect, but London Mayor Boris Johnson had rejected the plans "to ensure that nothing on the site would overshadow the power station".

According to The Guardian, the property's Irish owner insists that the project is progressing and revised plans were submitted for approval last month. Robert Tincknell of Treasury Holdings, which controls Real Estate Opportunities, says: "There is no doubt whatsoever that the power station will be developed."

For more details on office space in Battersea, Wandsworth, or any other location in London or the UK, start searching at officebroker.com or speak direct to one of our expert consultants for free, local advice.

Published by Jo on Tuesday, 01 September 2009 at 10:20 AM