sharen@nst.com.my
The first major expansion to the London Underground network this century, the Northern line extension (NLE), has opened, marking an important milestone in the regeneration of Battersea Power Station (BPS) and the reshaping of central London.
The riverside neighbourhood is redeveloped by a Malaysian consortium comprising S P Setia Bhd (40 per cent), Sime Darby Property (40 per cent), and the Employees Provident Fund (20 per cent).
The former coal-fired Power Station was dormant for decades after it was decommissioned in 1983. The Malaysian consortium won a competitive bid to redevelop the 15-hectare site in 2012 in a deal worth £400 million.
S P Setia and Sime Darby Property are strategic investee companies of Permodalan Nasional Bhd, which together with the Employees Provident Fund owns the commercial assets within the Power Station building.
The £9 billion regeneration project will create 3.5 million square ft of mixed commercial space, coupled with 4,239 new homes and 19 acres of public space.
According to a statement by Sime Darby Property, the BPS project has contributed over £300 million to the NLE which runs from Kennington to Battersea Power Station via Nine Elms and has enabled the regeneration of both these areas.
With its very own Zone 1 London Underground station now open, BPS will draw Londoners, international visitors, and workers from across the capital with journey times to the West End and the city takes about 15 minutes, boosting the local economy and creating over 17,000 jobs.
Battersea Project Holding Company chairman Datuk Ahmad Pardas Senin said: "The launch of the Northern line extension is a historic moment in British transport history and we are delighted to have been able to support and contribute to this pivotal infrastructure project, which is set to significantly enhance the connectivity of this part of London."
Datuk Wong Tuck Wai, chairman of Battersea Power Station Development Company (BPSDC) said that this new mode of transport is a gamechanger for Battersea and Nine Elms and undoubtedly makes BPS one of the most well-connected destinations in the capital.
BPSDC chief executive officer Simon Murphy said the launch of the Northern line extension is a major milestone in the regeneration of BPS.
"Improving transport links and connectivity to this area of London has been fundamental to the development from the very beginning, and we are delighted to have played a key role alongside TfL and others in delivering the first major extension to the London Underground this century," he said in the statement.
He said as the company countdown to the Power Station opening its doors to the public next year, he looks forward to welcoming more visitors travelling on the new tube line from across the capital.
Once open to the public next year, BPS will house over 100 shops, bars, and restaurants, as well as unique events and leisure spaces, including the chimney lift experience. The glass elevator will transport visitors 109m up inside one of the Power Station's iconic chimneys before they emerge at the top to enjoy unrivalled 360o views of the capital's skyline.
According to the statement, there is strong progress on Electric Boulevard, a new high street that runs from the south of the Power Station, between the stunning Frank Gehry-designed Prospect Place and Foster + Partners' Battersea Roof Gardens to the new BPS Zone 1 underground station.
Electric Boulevard, which is opening next year will offer a mix of office space, shops, bars and restaurants, a park, a community centre, and a 164-room hotel from art'otel®, the brand's first hotel to open in London.
The rest of the building will be completed in stages throughout the year, with residents moving into the Boiler House and Switch House East in the coming months.
Circus West Village, the first phase of the iconic development, welcomed its first residents in 2017. It is currently home to over 1,500 people.
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