An aerial view of the revived Battersea Power Station standing south of the River Thames in London. — Reuters
PETALING JAYA: Battersea Power Station has launched Koa at Electric Boulevard, a collection of 204 apartments designed by one of Britain’s well-known architects, Foster + Partners, with prices ranging from £560,000 (RM3mil) to £2.15mil (RM11.4mil).
The residential units, which come with one or two bedrooms, are located next to Battersea Power Station’s new Zone 1 London Underground Station.
The new homes overlook a mix of restaurants, bars, offices and shops at Electric Boulevard, a new pedestrianised high street, putting residents in the heart of the new “15-minute” live, work and play neighbourhood.
Speaking during a media briefing prior to the launch, Battersea Power Station Development Company (BPSDC) head of residential, Meriam Lock-Necrews, said the Koa at Electric Boulevard is expected to be completed in November 2023.
Out of the 204 apartment units, there are 75 studio apartments and another 75 one-bedroom apartments. The remaining 54 apartments would be two-bedroom units.
Koa at Electric Boulevard is part of the Phase 3 of the development.
The wider Battersea Power Station development in London is owned by a consortium of Malaysian investors comprising S P Setia Bhd (40%), Sime Darby Property
(40%) and the Employees Provident Fund (EPF) (20%), with the commercial assets within the Power Station building are now directly owned by Permodalan Nasional Bhd (PNB) and the EPF.
In 2014, BPSDC launched Circus West Village, also the Phase 1 of the development, providing 865 residential apartments and over 20 retail outlets.
Additionally, Phase 1 was inclusive of office space measuring about 25,000 sq ft. According to Lock-Necrews, the capital growth for the residential units at Circus West Village is about 50%, for the purchasers who bought them from 2017 onwards.
For comparison, the capital growth for residential units in Central London is about 7.2%.
She added the gross yield at the Battersea Power Station is about 4.6%, which is higher than the gross yield in Central London which stands at 3.25%.
Over the last 18 months, BPSDC has achieved more than £700mil (RM3.7bil) of new residential sales, with the majority being bought by purchasers from the United Kingdom.
”With so much of the neighbourhood now open, including the six-acre Power Station Park, our very own Zone 1 Underground station and the great mix of shops, bars, restaurants and leisure venues, there is an undeniable energy across the development, making it a truly exciting time to join the Battersea Power Station community,” said BPSDC chief executive officer Simon Murphy at the launch of the project in London last week.
The International Gallery @ KLGCC Resort houses the Battersea Power Station showcase. Visit the showcase or call +60 11-2846 9113 for more information on Koa at Electric Boulevard. Opens daily from 9.30 a.m. to 6.30 p.m.
