Plans for the £5.5bn redevelopment of Battersea Power Station, which includes the proposed construction of a wide range of new homes, received a major boost when the London Mayor, Boris Johnson, gave the proposed scheme the green light late last week.

The redevelopment of the iconic, grade II listed building is part of the wider regeneration of the Vauxhall-Nine Elms-Battersea area, one of the largest regeneration sites in London, which includes the proposed construction of 16,000 new homes, a large park, along with various leisure and retail facilities.

The £5.5bn development – designed by Rafael Vinoly – was initially approved by Wandsworth Council in November and will include support towards an extension of the Northern Line.

Johnson commented: “Battersea Power Station has long been an iconic feature of the capital’s skyline, and these plans will make sure that status is retained for years to come.

“The building was once a vital motor helping to power the capital. With its future secured through this regeneration, it will once again play a part in driving London’s economy.”

Aside from the new homes that the redevelopment of the Power Station will deliver, there are currently a number of new homes being constructed in and around the Battersea area.

New homes in Battersea:
New home developer Berkeley Homes are currently building a selection of new apartments in Battersea at Battersea Reach, located near Wandsworth Town train station. Prices start from £2.1m.

Homehunters seeking an affordable home may wish to check out Thames Valley Housing’s affordable home development St George’s Grove in Battersea, featuring one and two bedroom apartments, with affordable homes start from £57,000 for a 30% share of a new build home.

Elsewhere, housing association LQ are offering a selection of one and two bedroom apartments on Arch Street, with a full market value of £255,000 to £340,000. However, purchasers can buy a 25% share in an affordable home under a part buy part rent scheme for £56,350.