Battersea Power Station will be floated on the London Stock Exchange at the beginning of next year, company’s debt-laden Irish owner Real Estate Opportunities (REO) announced.
REO said it agreed to float the Battersea Power Station in a bid to attract investors to help development of the site. REO has plans to transform plant into a site for 3700 homes and
2.3 million square feet of shops and offices.
If REO gets planning permission, the London landmark will be de-merged, and floated on the London Stock Exchange to bring in new partners.
REO is searching for investors to purchase into the project and has plans to sell off 50 per cent stake.
Speaking on the topic, REO’s managing director Rob Ticknell said, "Battersea Power Station is our standout project but now we need a major international partner.”
The coal-fired Battersea Power Station was shut down in 1983 over environmental concerns. REO acquired the Battersea Power Station for 400 million pounds in December