£44 million off at Battersea Power Station
11 April 2012
The value of the Battersea Power Station site, which is earmarked for major redevelopment, fell by £44 million last year.
Its owner today said the south London landmark was worth £406 million at the end of 2008, having been valued at £450 million 12 months earlier.
The 18% fall left it worth little more than the £400 million Real Estate Opportunities paid for it in December 2006. The firm is finalising plans for the redevelopment of the power station and surrounding area, including 3500 homes, a school, a theatre and an eco-dome.
REO reported a 28% fall in net asset value per share to 104.1p.
