Saturday, April 19, 2014


A Malaysian consortium made up by SP Setia, Sime Darby and the Employees Provident Fund paid 400 million pounds for the 39-acre power station scheme in July 2012.

Battersea home sales: priority to Londoners
254 apartments will be on offer only in London from May 1
[LONDON] Residential property in the second phase of the Battersea power station project in London will be offered for sale in the British capital before being marketed to overseas buyers, the scheme's Malaysian-backed developer said.
The decision comes in response to increasing pressure on builders to give Londoners priority for new homes in an effort to combat a housing shortage exacerbated by the droves of overseas buyers who have snapped up residential property in the city over recent years.
The power station, famous for its imposing quartet of art deco chimneys, stood derelict on the south bank of the River Thames for about three decades until the 15.8 hectare site was bought in July 2012 by a Malaysian consortium.
As part of the project's second phase, 254 apartments will be on offer in an exhibition that will be held only in London from May 1. They will range from studio flats to five-bedroom penthouses.


Hot demand for Battersea looks set to boost SP Setia earnings
Maybank analyst thinks sales will surpass its target by RM200m

New lease of life: Over the next 14-15 years, a mixed residential and commercial development with an estimated gross development of £8b will be built on the strategic location. 

If the London and Kuala Lumpur launches of the United Kingdom's Battersea Power Station project last week are anything to go by, the 100 residential units set aside for Singapore buyers are likely to be snapped up on Saturday.
Ahead of the Singapore launch on Saturday, a Malaysian consortium led by developer SP Setia reported all units showcased in London and KL had been fully booked.
This amounts to three- quarters of the 800 units under phase 1 called Circle West. Upcoming launches in Singapore and Hong Kong will be offered 100 units each.
A large crowd swarmed to the KL launch over the weekend where 400 units were offered with most buyers reportedly middle aged. Purchasers must pay a fifth by January 2014 and the balance on completion in 2016.   -- SINGAPORE BUSINESS TIMES

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