Plans to redevelop the Battersea Power Station under the £1bn Nine Elms scheme in south London were given the green light by Wandsworth Council last night.
The next stage of the process will see the application referred to London mayor Boris Johnson and communities secretary Eric Pickles.
Wandsworth Council’s approval of the planning application, the largest ever in central London follows one of the most comprehensive consultation programmes for a property development ever undertaken in the UK, consisting of over 300 meetings with local groups and stakeholders, three public exhibitions and over 16,000 visitors to Battersea Power Station.
The scheme has the backing of the Greater London Authority, English Heritage and the Commission for Architecture and the Built Environment (CABE).
Rafael Viñoly’s masterplan will create a mixed-use sustainable development with over 3,400 new homes alongside offices, hotels, leisure facilities, a conference centre, shops and restaurants. At the heart will be the restored power station.
The development will also include a new Tube station on the proposed extension of the Northern Line from Kennington to Nine Elms and Battersea Power Station. This will be the first ever privately funded extension to the Tube network in central London, but will not be built in the first phase of development.
Developer Real Estate Opportunities (REO) welcomed Wandsworth Council’s decision and said it was “confident in its ability” to finance the project. It said it has already attracted significant interest from a range of prospective investors and that it hopes to announce significant progress in this regard early in the new year.
Construction on Phase 1 of the development is scheduled to commence in early 2012 with completion in 2016. The remaining phases, including the new underground station will follow, with the entire development scheduled for completion in 2024.
Nick Cuff, chairman of Wandsworth Council’s Planning Application committee, said it was an important step forward but that there was much still to do.
“This scheme would restore one of London’s most iconic buildings and create thousands of new jobs and homes. The two Northern Line stations will spur on the regeneration of Nine Elms and bring a huge economic windfall to this part of south London. There is still a great deal of work to be done but this is an important step forward and will give the area’s other major investors the confidence to press ahead with their plans.”