PETALING JAYA: SP Setia Bhd is said to be one of the bidders that have ended up in an informal shortlist for the Battersea Power Station site in London.
According to a Bloomberg report quoting Britain's Sunday Times, the shortlist also includes London Riverside Development Corp, backed by billionaire brothers David and Simon Reuben, and Chelsea Football Club Ltd.
London Riverside, whose investors included Godfrey Bradman, one of the developers of Broadgate in London's City district, was said to have made the highest bid for the Battersea site of more than £330mil, the paper said, without citing anyone.
Meanwhile, an industry source told StarBiz that besides SP Setia, a number of other Malaysian developers were among the international bidders for the redevelopment of the 15.8ha site.
According to him, a good number of the bids “are quite strong” and a decision on the successful bidder is expected soon.
The offer for sale of the freehold of the 15.8ha site was by private treaty via informal tender.
The submission of bids was no later than 12 noon, London time, on May 6.
Last year, SP Setia Bhd made two earlier bids of £262mil and £324mil for the site but failed. The company said it was keen to make a fresh bid for the latest sales tender exercise for the site.
The Battersea site is located in a prominent central London riverside location and has valid outline planning permission for a major mixed use development totalling about 750,000 sq m in gross external area.
The dilapidated coal-fired power station has been closed since 1983 after 50 years in service. The site has seen several failed redevelopment attempts in the past three decades.
Irish developer Real Estate Opportunities was the last to try its luck with a £5.5bil redevelopment plan but the plan collapsed in December last year after the company went into administration.
By The Star
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