BPSDC – Battersea Power Station Redevelopment – UK - Project Profile
"BPSDC – Battersea Power Station Redevelopment – UK - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Battersea Power Station Development Company (BPSDC), a joint venture of SP Setia, Sime Darby and the Employees Pension Fund of Malaysia, is undertaking the redevelopment of Battersea Power Station in London, the UK.
The project involves the redevelopment of the existing power station site on a 17ha area. It will include the construction of 3,566 private and affordable homes, 160,000m2 of office space, a hotel, 56,000m2 of retail space and 9ha of public realm. The Northern Line will also be extended to Battersea Power Station and a new 'transportation hub' is to be located at the site.
The project includes the restoration of the existing plant. The redevelopment includes 40,000m2 of shops, cafes, roof gardens, pools, a public square, a theatre, parks and restaurants, 58,000m2 of office space and 248 homes.
The project will be executed in seven phases. First phase (also called as Circus West) includes the construction of two buildings of up to 18-story containing 866 homes and leisure facilities set within a new public park.
The second phase includes the construction of a mixed-use complex comprising 248 residential units and 97,515m2 of commercial and retail space. It is an investment of US$1,315 million.
The third phase includes the construction of a mixed-use complex comprising 1,300 residential units, a 160-room hotel, and 32,782m2 of commercial and retail space. The third phase is being developed in two phases.
The fourth phase(Phase 4a) includes the construction of a mixed-use complex comprising seven-building, 18-story, 386 market rate residential units and 40,574m2 of commercial and retail space.
The fifth phase includes the construction of a mixed-use complex comprising 147 residential units.
The sixth phase includes the construction of a mixed-use complex comprising 390 residential units and 49,393m2 of commercial and retail space.
The seventh phase includes the construction of a mixed-use complex comprising 150 residential units and 835m2 of commercial and retail space.
Rafael Vinoly has been appointed as a master planner and Turner & Townsend as project manager.
A consultation process was launched in June 2008 and revealed that 66% of the general public was in favor of the plans. REO were to submit the planning application for their proposal to Wandsworth Council on March 23, 2009. However, these plans were shelved due to the financial crisis to hit the site.
The Council granted planning consent on November 11, 2010. REO hoped for construction to begin in 2011, but it was delayed.
Following the failure of the REO bid to develop the site, in February 2012, Battersea Power Station was put up for sale on the open market. The sale was conducted by a commercial estate agent Knight Frank on behalf of the site's creditors.
In May 2012, many bids were received for the site, which was put on the market after Nama and Lloyds Banking Group called in loans held by REO. Bids were received from Chelsea F.C. with other interested parties including a Malaysian interest, SP Setia, London & Regional, a company owned by the London-based Livingstone brothers and housebuilder Berkeley.
On May 4, 2012, Chelsea submitted a bid to acquire 15.78ha site, with a view to building a 60,000-seat stadium. However, the plans were rejected in early June 2012.
On June 7, 2012, Sime Darby Bhd, S P Setia Bhd, and the Employees Provident Fund (EPF) formed a consortium to jointly bid for the redevelopment of power station site. Sime Darby and S P Setia will hold 40% equity each in the consortium and the EPF will own the remaining 20%. The deal was finalized in September 2012.
In December 2012, the first phase plans were approved by Wandsworth authorities.
In May 2013, Ian Simpson Architects and de Rijke Marsh Morgan were selected as architects for the first phase.
On May 22, 2013, Carillion was selected as the contractor for the first phase and construction works commenced in July 2013.
In September 2013, Mace Group was appointed as enabling contractor for the first stage of second phase. Mace will be responsible for managing the trade contractors who will undertake US$160 million works package, which comprises brick repairs to elevations, repairs to four wash towers, and dismantling and reconstructing of chimneys.
In October 2013, Wilkinson Eyre unveiled the detailed designs for the US$1,260 million redevelopment of the power station.
In November 2013, BPSDC secured US$1,279 million loan from a syndicate of five banks comprising CIMB Bank Bhd, Standard Chartered Bank, Oversea-Chinese Banking Corporation Ltd, HSBC Bank and Maybank International.
Gehry Partners and Foster+Partners have been appointed as architects for the third phase and DP9 Ltd as the planning consultant for the project.
In July 2014, Skanska was awarded a two-year contract by Carillion, to deliver the mechanical and electrical shell, core and fit-out works for the first phase.
In October 2014, BPSDC finalized three Malaysian firms for supplying flooring and doors and other materials for the first phase.
BPSDC secured US$2,177 million from a syndicate of Asian and Middle Eastern banks comprising Singaporean bank DBS, the National Bank of Abu Dhabi, Malaysian bank RHB and the Oversea-Chinese Banking Corporation for second and third phases.
Standard Chartered Bank, CIMB, and Maybank acted as mandated lead arrangers, book runners and joint co-ordinators for the deal.
On October 28, 2014, Skanska was selected as the contractor for the second phase.
The first of the four chimneys has been rebuilt including a group of specialist contractors including construction managers Skanska, expert heritage building consultants Beroa Bierrum and Buro Happold Engineering.
GVA Second London Wall has been appointed as project manager, Adamson Associates as basement architect, LDA as landscape architect, Chapman Bathurst as MEP consultant engineer and AECOM as cost consultant for the third phase of the project.
Patel Taylor and John Thompson & Partners have been appointed as architects for the fourth phase of the project.
Robert Bird Group has been appointed as Structural Engineer, quad consultancy as the marketing consultant, Town Legal as legal advisor, Waterman Group as the environmental consultant for the fourth phase of the project.
On September 16, 2015, Bouygues was selected as preferred bidder for the third phase of the project. The value of the contract is expected to be US$1,540 million.
In October 2015, PPHE Hotel Group was awarded management contract of a hotel in the third phase and it will be operated under the brand Art’otel.
In November 2015, Bouygues was appointed as design-build contractor for the third phase. Domus was awarded US$502 million to supply winter garden tiling package contract for the first phase.
In March 2017, Bouygeus was terminated from the contractor for the third phase due to unable to agree on terms between BPSDC and Bouygeus.
In April 2017, BPSDC is awaiting planning consent from the city council for to deliver 636 affordable homes out of a total 3,444 homes.
Under the proposed amended plans, 103 affordable homes that were meant to be delivered as part of a third phase, would be shelved and potentially instead rolled into Phase 5.
In May 2017, Sir Robert McAlpine has been appointed as construction contractor for the third phase.
As of June 2017, BPSDC secured approvals for the fourth phase of the project.
On July 31, 2017, Mace has been appointed to replace Skanska for the second phase of the project. Skanska existing contract is expected to end by the fourth quarter 2017.
The first phase is expected to complete in 2017. Construction activities on second and third phases are underway and redevelopment of the power station will be completed in 2021, and the entire project is scheduled to complete in 2026.
Construction works on the fourth phase is slated to commence in the first quarter of 2018.
The planning activities on the remaining phase five, and six, and seven are underway.
The project involves the redevelopment of the existing 17ha power station site located in Battersea, an area of the London Borough of Wandsworth, the UK.
The US$10,000 million project includes the following:
1. Construction of 3,444 private and affordable homes
2. Construction of 160,000m2 of office space
3. Construction of a hotel
4. Construction of 56,000m2 of retail space
5. Development of 9ha of public realm
6. Installation of elevators
7. Installation of safety and security systemsReasons To Buy