The developers of Battersea Power Station have raised £600m for the third phase of their scheme. The money will enable them to progress development of mixed use buildings and the scheme’s ‘High Street’ Electric Boulevard.
The finance has been
raised from existing lenders including Standard Chartered Bank, CIMB, Maybank
and OCBC, DBS and RHB.
Benn Zemek, CFO of
Battersea Power Station Development Company, says: “This financing is a further
significant step in the continued development of Battersea Power Station,
allowing us to optimise the project’s capital structure.
“In addition, the
continued strong support from our international lender consortium provides
further endorsement not just of the Battersea Power Station project itself, but
also of London’s
ongoing position as a first-class destination for international capital.”
The Battersea Power Station redevelopment is a mammoth construction project which will completely transform this part of London creating an entire new urban district. However, the latest financing on top of the billions already committed illustrates that it is also a mammoth project in terms of the money required and the financial underpinnings of the project too.