KUALA LUMPUR (June 7): S P Setia Bhd and Sime Darby Bhd have been identified as the preferred bidder for the Battersea Power Station in London.
In a joint statement on Thursday, S P Setia and Sime Darby said the companies had entered into an exclusivity agreement with the joint administrators and receivers, Alan Bloom and Alan Hudson of Ernst & Young LLP, on behalf of the owners of the Property, to acquire the site for £400 million (RM1.96 billion).
The two companies said they had a period of up to 28 days to conduct further due diligence and investigations as may be deemed necessary, and to negotiate the contract for the acquisition of the property.
"S P Setia's and Sime Darby Property's plans involve the development of a sustainable multi use real estate regeneration project that will provide economic impetus for the creation of a new vibrant centre for south-west central London," they said.
"The plans will preserve the facade of the historical power plant with its iconic chimney stacks."
In addition, the companies have committed to the construction of a new underground station as part of the proposed extension of the Northern Line (part of the London Underground's Tube network) which shall pass by the site, they said.
This is viewed as fundamental to the success of this regeneration project, said S P Setia and Sime Darby.
TOP PICKS BY EDGEPROP
Residence [email protected] [Foc Mot & Free Furniture]
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Mont Kiara | New Condo Below Market Price
Mont Kiara, Kuala Lumpur
Invest Dual Key Unit GRR 9 years RM280k
Cyberjaya | Cash Back Up To 35K New Condo
Petaling Jaya | New Invest Condo Beside University
Petaling Jaya, Selangor
NEW 1 Sty SEMI D Seksyen U14 Booking RM500 Only
Shah Alam, Selangor
Sunway @ New Dual Key Condo Walk To University
Bandar Sunway, Selangor
2.5 Storey Bungalow House Kg Kubu Gajah
Sungai Buloh, Selangor
Passive Income RM1,800 Below Market Price | Cheras
Cheras, Kuala Lumpur
Cyberjaya DUAL KEY CONDO FREE FURNISHED+RENOVATED