Whilst going for my weekly jog, I frequently pass by the old electric power station in Battersea, the famous “Battersea Power Station”. I often wonder if I should consider taking the opportunity to move here as renovation of the iconic powerstation and its surroundings progress.
Who would have imagined that you could live in the building that appeared on the cover of a Pink Floyd album?
The problem is the price, given that for a studio apartment in the power station, it would cost £800,000 and a two bed would cost you £1.5 million. Except for millionaires, Battersea Power Station is not affordable for the average Londoner.
The surrounding area of Battersea does present some property investment opportunity at more affordable prices: St Georges Wharf in Vauxhall, Battersea Park Road and of course, the surroundings of Battersea Park and Chelsea Bridge, where old Georgian buildings and modern apartment blocks intertwine. There is something for everyone here.
In any case, the renovation promises to be exciting – with the arrival of the new American embassy on Nine Elms Lane, shops, restaurants, art galleries, a hotel, all right next to the Thames and just a few minutes from Vauxhall station (train and tube).
The cherry on top is that a new tube station is going to be built in 2019, by lengthening the Northern Line, along the Kennington branch.
This is an area full of investment. One to watch!