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Battersea Power Station has been purchased from the Battersea Power Station Development Company by a joint venture between Permodalan Nasional Berhad (PNB) and The Employees Provident Fund of Malaysia (EPF) (which own 65% and 35%, respectively) for £1.583 billion.
The power station building is currently undergoing extensive renovation, which is due to complete in 2020.
Dato’ Ahmad Pardas Senin, chairman of Battersea Project Holding Company, said: “We are delighted that this reorganisation has concluded, giving this iconic landmark a sound footing for the future and ensuring it is expertly curated and managed in the longer term.”
Datuk Wong Tuck Wai, chairman of BPSDC, added: “The closure of this transaction marks a significant milestone for all parties involved as it allows the parties to focus on what they do best respectively and specifically enhance the roles each plays in the overall Battersea project.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.