Purchasing power

One of the UK’s most striking buildings is to be offered for sale on the open market for the first time in its history.

Battersea Power Station in south London has been vacant since being decommissioned in 1983.

Planning permission for a £5bn development including homes, offices, a hotel, retail and leisure facilities was secured for the site from Wandsworth Council last year. The scheme includes a £200m contribution towards connecting the power station to the Tube by extending the Northern line. Proposals put forward by former owner Treasury Holdings would also mean the creation of 25,000 jobs and the construction of 16,000 homes.

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Stephan Miles-Brown of Knight Frank, which is handling the sale, said: “As one of the UK’s most recognisable landmarks, Knight Frank anticipates considerable interest in a scheme that is among the most exciting in the world today.

“Battersea Power Station is as iconic as the Chrysler Building in New York or the Eiffel Tower and familiar to people who may have never even been to London.”