Project: Battersea Power Station, SW8
Client: Battersea Power Station Development Company
Date: 2011 – to date
JLL began working with SP Setia consulting on Battersea Power Station back in 2011. Our expert market knowledge in each specific field as well as our intricate understanding of mixed use London developments, allowed us to successfully advise SP Setia through their purchase of the Power Station and later the market launch.
Battersea Power Station is widely considered the most successful UK residential launch in recent history. All 864 units in phase 1, which formed part of the largest planning permission London has ever granted, sold within a matter of weeks for prices which were well above the local comparable benchmarks. This was then matched by sales within phase 2 a year later where 90% of apartments were sold in less than a month. For the most recent phase, JLL co-ordinated a global launch of 13 cities in 11 countries over two weeks which has also been an unmitigated success.
We were instructed to provide development consultancy and acquisition advice from the purchase of the site and on-going through to the most recent phase. The brief has always been to break records, whether in pricing, sales rate or scope, something JLL has always managed to achieve on behalf of the client.
- Successful sales in phase 1,2 and 3
- Pricing records in the immediate area and for all south of the river locations broken
- Strategic consultancy and acquisition advice leading to the biggest land sale in UK history
- Accurate pricing which enhanced the initially proposed GDV
- Unprecedented sales results
- Continued consultancy on phase 3 helping to add considerable value to the residential element