London · Analysis · Battersea Power Station

Battersea Power Station secures a £280 million refinancing loan for its remaining 16 acres, with up to 3.2 million sq ft planned in Nine Elms, London

The company developing Battersea Power Station said on 13 October 2026 that it has secured a £280 million refinancing loan from CIMB, OCBC, Maybank and Standard Chartered to support the remaining 16 acres of the 42-acre riverside neighbourhood. It has applied to build up to 3.2 million sq ft there, has started building about 300 new Gehry-designed homes, and has planning consent for 200 council homes.

Al Mithaq news desk · Published 31 October 2026 · Source: Battersea Power Station

Aerial view of Battersea Power Station on the River Thames in London, with the completed Gehry-designed Prospect Place homes in front and the open land of the remaining phases to the right, on a sunny day. Picture: Battersea Power Station / High Level Photography

£280mrefinancing loan announced on 13 October 2026

3.2m sq ftproposed on the remaining 16 acres

50 millionvisitors since the Power Station opened in October 2022

A £280 million loan for the next phases

Battersea Power Station Development Company announced on 13 October 2026 that it has secured a £280 million refinancing loan to support the development of the remaining 16 acres of the 42-acre riverside neighbourhood. The facility comes from CIMB, OCBC, Maybank and Standard Chartered, the core group of lenders that has supported the development since it began, and the company says it reflects confidence in Battersea Power Station's delivery record and its readiness to move to the future phases. The site was bought in 2012 by a Malaysian consortium of S P Setia, Sime Darby Property, Permodalan Nasional Berhad and the Employees Provident Fund.

What is planned on the remaining 16 acres

On 14 September 2026 the company submitted a planning application for a revised masterplan by Studio Egret West, proposing up to 3.2 million sq ft of residential, commercial, leisure and cultural space on the remaining 16 acres. The company says this would nearly double the scale of development delivered so far. The plans divide the remaining phases into clusters of smaller buildings with a finer network of streets and courtyards, and include a "green handshake" across Nine Elms Lane linking the site directly to Nine Elms Park. The application updates Rafael Viñoly's original masterplan, which is more than 15 years old.

New homes under way

Construction of Prospect Place South began in September. Designed by Gehry Partners, its two buildings, Rosewood House and Hayworth House, will provide about 300 new homes, 65,000 sq ft of shops, cafés and restaurants, a 15,000 sq ft Community Hub and a bike hub with 600 free spaces, with completion expected in 2030. They extend the existing Gehry buildings at Prospect Place, which the company says are the only residential buildings in the UK designed by Frank Gehry. Separately, planning permission was granted in September for 200 council homes on Phase 5, to be delivered with Wandsworth Council at social rent levels, with construction expected to begin in early 2027.

What is already there

According to the company, Battersea Power Station already has more than 2,200 homes, about 800,000 sq ft of offices and more than 170 shops, bars, restaurants and leisure venues. On 30 September it welcomed its 50 millionth visitor, less than four years after the restored Grade II* listed Power Station opened to the public in October 2022, and it expects more than 20 new brands to open there during 2026. Apple Music Hall, a new live music venue, opened at the site in September.

Why it mattersOur view for a Kuwaiti buyer: Battersea Power Station is about halfway through one of central London's last large-scale brownfield regenerations, in the Nine Elms area on the south bank of the Thames. A project that draws millions of visitors and has secured a £280 million refinancing loan from the banks that have backed it since the start is moving on to its next phases. More homes, offices, shops and a link across Nine Elms Lane to Nine Elms Park should make the area more complete to live in. Two cautions. The new masterplan is an application, not yet an approval. And a regeneration plan says nothing certain about what any single flat will be worth later, so compare each development on its own price, service charge and completion date.

What Al Mithaq adds

Al Mithaq does not sell homes at Battersea Power Station; we report it because it is one of central London's last large-scale brownfield regeneration sites. We are the authorised broker in Kuwait for London Square, Aldar's London developer, and our London guide explains who can buy, the six steps from reservation to keys, stamp duty with a worked example, and the developments we offer. Tell our team your budget and whether you are buying with cash or finance, and we answer from Kuwait the same day.

Sources

Key facts

Developer: Battersea Power Station Development Company (owned by a Malaysian consortium since 2012)
Refinancing: £280 million from CIMB, OCBC, Maybank and Standard Chartered (announced 13 October 2026)
Remaining land: 16 of 42 acres; planning application for up to 3.2 million sq ft (submitted 14 September 2026)
Under construction: Prospect Place South by Gehry Partners: about 300 homes, completion expected 2030
Council homes: 200 homes on Phase 5 with Wandsworth Council, construction from early 2027
Delivered so far: More than 2,200 homes, about 800,000 sq ft of offices, 170+ shops and venues; 50 million visitors since October 2022