Battersea:Battersea Power Station Development Company has secured a £280 million refinancing facility to advance the development of the remaining 6.47 hectares of the riverside neighbourhood. This new financing establishes a strong foundation for the project's next phase.

According to BERNAMA News Agency, the loan was secured from CIMB, OCBC, Maybank, and Standard Chartered, reflecting lender confidence in the project's established commercial maturity and successful delivery record. The project's chief financial officer, Siew Chee Seng, emphasized that this support demonstrates confidence in the transformation achieved so far, from restoring the historic Power Station to creating a thriving riverside area.

Siew also noted that securing this refinancing loan marks another significant milestone for the development located south of the Thames. A revised masterplan has been submitted for the undeveloped land, with Studio Egret West proposing up to 3.2 million square feet of residential, commercial, and leisure space, which is nearly double the development scale achieved to date.

Progress is also being made on Prospect Place South, which will include about 300 housing units, 65,000 square feet of commercial space, and a 15,000 square foot community hub. Additionally, planning permission has been granted for 200 council housing units on Phase 5 of the development, with construction expected to begin in early 2027. These council units will be available at social rent levels.

To date, more than £5 billion has been invested in transforming Battersea Power Station into a vibrant mixed-use neighbourhood and internationally recognized destination.