Yahoo Finance £600m of flats sold in 5 days, but what makes them so special?
Almost all the properties within the first phase of the Battersea Power Station development have been snapped up in practically no time at all, but is the hype justified? We take a look.
Building has not even started yet, but the hotly anticipated properties in the first phase of the new Battersea Power Station development have nearly all been reserved.
It is expected to be announced as sold out and the fastest selling development of all time after this weekend when a tour of buyers in Hong Kong and Singapore finishes.
The Grade II listed power station is at the heart of the 39 acre development. The largest brick building in Europe and an impressive example of Art Deco architecture, the power station will be renovated, as part of the plans.
Circus West is the name of the first area of development. It will contain 800 properties and it’s expected to be at least three years before people can live there, yet three-quarters of the properties were reserved within a week of going on the market.
Alongside a number of penthouses and townhouses, there will be one, two and three-bedroom apartments within Circus West.
There will also be offices, shops and leisure facilities. Prices will
start at £338,000 for a studio, from £423,000 for a one-bedroom
apartment, from £613,000 for a two-bedroom and from £894,000 for a
three-bedroom.
Rob Tincknell, chief executive of Battersea Power Station Development Company, commented: "The first week of sales at Battersea Power Station has been phenomenal with commitments for over £600 million received since the launch just five days ago.
“This is a water shed moment in the history of the power station and key to finally enabling this important London site to be regenerated, more than 30 years since its decommissioning.”
Circus West will be made up of eight main buildings. Preparation for construction is underway and is expected to begin in the second half of this year.
The entire Battersea development will stretch along 400 metres of the River Thames’s south bank, sitting directly opposite Chelsea.
The development will coincide with a proposed extension to the London underground that will bring the Northern Line to Battersea.
Images courtesy of Battersea Power Station Development Company
www.batterseapowerstation.co.uk
