February 28, 2018
Battersea Power Station and Peabody are pleased to announce that they have entered into a strategic partnership to deliver the first 386 affordable homes at the Battersea Power Station development.
Peabody was carefully selected to partner with the developer following the consideration of several government registered providers due to their detailed knowledge and expertise in providing this type of housing.
These affordable homes will be delivered for the local community three years earlier than required in the masterplan, with preliminary works beginning this year, and should be ready for local residents to move into in 2020. Patel Taylor is the appointed architect on this phase and the design of these new buildings – ranging from one to four bedroom properties – will echo the style of London’s grand redbrick mansion blocks. All homes will have private outdoor space – balconies, terraces, access to private residents’ gardens and 98% will be dual aspect.
The development is expected to comprise a new £13 million NHS medical centre, as well as workspaces for start-up businesses. The homes will be a mix of shared ownership and affordable rent. The rented homes will be significantly discounted from market rate and there will be homes available on a part rent, part buy basis.
These are the first 386 affordable homes that Battersea Power Station is committed to delivering with a review mechanism due to take place nearer completion to confirm the final number of affordable homes to deliver.
To find out more about affordable homes at Battersea Power Station, please register on the Battersea Power Station website at: www.batterseapowerstation.co.uk/affordablehomes
Brendan Sarsfield, Chief Executive of Peabody, said:
“The regeneration of Battersea Power Station is an iconic scheme for the capital which we are pleased to be a part of. This collaboration will be an important part of the 2,500 new homes we are building each year. These top-quality, genuinely affordable homes will be on the doorstep of the new Northern Line tube station, making it a hugely desirable place to live and work. The traditional mansion block designs, with a courtyard and spaces for children to play, will be a great addition to the Nine Elms neighbourhood.
We look forward to working with Wandsworth Council, Battersea Power Station Development Company and the GLA as the scheme progresses.”
Rob Tincknell, Chief Executive Officer at Battersea Power Station Development Company, said:
“We believe Peabody are one of the best in class when it comes to providing and looking after affordable homes so we are confident this partnership will ensure the local community benefits sooner than we originally promised and can enjoy the high standards of accommodation they rightly expect.
“The team at Battersea is committed to building a strong and diverse community across the whole development along with ensuring the surrounding areas benefit too via new facilities such as a new NHS medical centre, children’s play area and affordable workspaces. This sits alongside the ongoing wider investment in the area such as the Northern Line extension to Battersea and creating thousands of new jobs.
“We look forward to starting works on these homes with Peabody and encourage locals to register to become part of the Battersea Power Station community.”
Cllr Ravi Govindia, the leader of Wandsworth Council, said:
“This is an important announcement as part of the wider Nine Elms regeneration project, which is bringing 20,000 new homes and 25,000 permanent jobs to the area. Wandsworth Council has been involved with Peabody on many different projects over several years and we are pleased to be working alongside them again.
“As you can see with this new NHS medical centre, children’s playground and these first 386 affordable homes, this is a scheme that will improve the quality of life of our residents and offer up opportunities for those who need them the most.
“I’m delighted to see these hundreds of new homes being delivered at affordable prices and it’s also pleasing that four-bed homes are going to be available for local families who may be struggling to find accommodation in the difficult housing market climate.”