539 designer homes on sale with global launch of Battersea Phase 3, with musician Sting among buyers

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KUALA LUMPUR (Oct 31): The state-of-the-art residential spaces at Phase 3 of the Battersea Power Station project in London, UK, has gone on sale, worldwide, and popular singer-songwriter Sting and his wife Trudie Styler have already snapped up a unit, intending to make it their London base.

"There are a few other well known personalities who have bought a unit, but they prefer to remain anonymous. Sting was very happy to put his name out there and endorse the project. He even made a comment about being a good neighbour," said Rob Tincknell, CEO of Battersea Power Station Development Company.

Battersea Project Holding Company Limited (BPHCL) chairman Tan Sri Liew Kee Sin, who launched the project in London with Urban Well-being, Housing and Local Government Minister Datuk Seri Abdul Rahman Dahlan earlier today, said he was elated that the project has received such a positive response.

"It is a dream come true for us. It is in the interest of the Malaysian government that we showcase what our developers are capable of," he said in a live-streaming video of the project launch from London.  The launch was streamed live in Kuala Lumpur, Singapore, Hong Kong, Paris, Shanghai, New York and Dubai.

Abdul Rahman said the consortium comprising Sime Darby, SP Setia Bhd and the EPF have done the nation proud.

Phase 3 of the Battersea Power Station Project involves the Electric Boulevard, a high street located on the south of the power station that will act as the main gateway to the entire 42-acre development.

It includes 1,300 residential units in a thematic range of sizes and styles in two zones, a four-star hotel, retail spaces, restaurants and leisure facilities. Los Angeles-based Gehry Partners designed five buildings to the east of the Electric Boulevard known as Prospect Place.

The homes, designed by world-renowned architect firms Gehry Partners and Foster and Partners, feature visually stunning residential spaces with extensive facilities and amenities. 

Battersea Power Station Malaysia Sdn Bhd director Norhayati Subali said a total of 539 residential units will be made available. The units on sale include 58 studio apartments from £495,000 (RM2.6 million), 68 one-bedroom apartments from £590,000, 245 two-bedroom apartments from £1.2 million, 140 three-bedroom apartments from £1.9 million, 14 four-bedroom apartments from £3.2 million and 14 penthouses with price on application (POA).

"The gross development value of these 539 units is £960 million (RM 5.05 billion)," she said the Global Launch of the Battersea Power Station project here.

Sime Darby and SP Setia each has a 40% stake in BPHCL, while the EPF has the remaining 20%.

Once completed, the businesses on-site the Battersea development area are expected to contribute £1 billion (RM5.28 billion) a year to the UK economy in the first 20-years of operating.

The 42-acre site is located on the south bank of the River Thames in London, in the vicinity of Westminster.

The expected gross development value (GDV) of the 15-year project is £8 billion (RM41.98 billion).

It was reported on Wednesday that Battersea Power Station had signed a syndicated loan facility totalling £1.35 billion (RM7.12 billion) with a consortium of bankers that will fund the development of the second and third phase of the mammoth project.

The financing, which is one of the largest real estate financing transactions in recent years, comprises a £750 million facility to fund the development of the power station building, and a £600 million facility to fund the development of the Electric Boulevard.