Battersea Power Station Community Forum – January minutes

Four subsidiary businesses of Real Estate Opportunities (REO), an Irish-based group that has a majority stake in the site, have gone into administration (bankrupt in plain language). The administrator (Ernst & Young) is trying to find a new developer for the site, interested parties included Malaysian property firm SP Setia (this now seems to have fallen through after their offer was rejected), Berkeley Homes (owners of Chelsea Bridge Wharf), Development Securities, and Chelsea Football Club. It seems that plans for the Northern Line extension are NOT effected by the REO companies going into administration and work is likely to commence in 2014, extending the northern line from Kennington, to Nine Elms and terminating in the vicinity of Battersea Power Station.