St Modwen ‘close to Nine Elms sale’

by: Heather Greig-Smith
  • 07/02/2017
  • 0
St Modwen ‘close to Nine Elms sale’
Developer St Modwen is close to a deal to sell its Nine Elms Square development converting Battersea Power station, according to its annual results.

Nine Elms Square is part of the regeneration of the Battersea Power Station area called New Covent Garden Market next to Chelsea Bridge on the south bank of the Thames.

The developer said whilst there is no guarantee of any transaction completing, it is “now in exclusive negotiations with a prospective purchaser at a level firmly supportive of book value”.

Nine Elms Square is at the heart of the regeneration site and will provide 1,900 apartments, most of which will have river views. Detailed consent for a 51 storey residential building has been achieved and there is outline consent for a mixed-use residential-led development comprising a cluster of towers – two buildings up to 46 and 36 storeys, one ten storey building and 10 buildings between seven and 29 storeys.

The development is to include a ‘linear park’ stretching to Battersea Power Station.

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