Battersea Power Station refines into a luxury shopping destination
Battersea Power Station, just a 10 minute walk from Versace’s Damac Tower, is set to create 17,000 jobs when it reopens as a shopping centre in 2021.
Luxury and beauty brands like Hugo Boss, Jo Malone and Space NK will open new branches in the Grade II-listed former coal-fired power plant on the south bank of the river Thames. They will join boxing world champion Anthony Joshua’s gym and more than 100 other shops and restaurants.
Sam Cotton, who runs retail leasing at the Battersea Power Station Development Company, which is running the rebuilding programme, said that it was important for the new shops at the power station to reflect the needs of the local community.
He added: “This is a very under-served part of London in terms of shopping and retail… we wanted to serve every price point.”
The development will include a new Northern line Tube station. The closest public transport station is currently Battersea Park, around ten minutes’ walk away.
Mr Cotton continued: “The new Tube station will be a great addition to the area, as transport isn’t our strongest point at the moment.”
Lets have been agreed for 70 per cent of commercial space in the new shopping centre, which will open late next year. As well as the shopping centre, the developers have converted part of the site into more than 1,000 new flats.
Mr Cotton did not comment on the timeline for agreeing new contracts with retailers, but said developers were keen to finalise as many leases as possible before the shopping centre opens.
Earlier this year, hundreds of planned flats were put on hold, with the space given over to new offices. The change was due to reasons of balance, according to developers. The Battersea Power Station Development Company is owned by Malaysian companies S P Setia Berhad, Sime Darby, and Employees Provident Fund.
Simon Murphy, chief executive of Battersea Power Station Development Company, said: “We are delighted to be partnering with these exciting brands which set the tone for our retail and leisure offering inside the Power Station.
“On behalf of our Malaysian shareholders we are delivering a destination for our local community as well as London and far beyond. We enter 2020 with a very strong pipeline of retail and leisure brands intending to make the Power Station their home, which we will announce over the course of the year as we begin counting down the days to the opening of this historic landmark in 2021.”