Battersea Power Station is to be offered for sale on the open market for the first time in its history.
The power station in south London has been vacant since being decommissioned in 1983. Planning permission for a £5 billion sterling development including homes, offices, a hotel, retail and leisure facilities was secured for the site from Wandsworth Council last year.
The scheme includes a £200m contribution towards connecting the power station to the Tube network by extending the Northern line from Kennington. It would also mean the creation of 25,000 jobs - 15,000 of them within the power station building - and the construction of 16,000 homes.
The proposals were put forward by former owner Treasury Holdings who bought Battersea for £400m in November 2006. The site was put into administration last year. In Britain an administrator works like a receiver in Ireland and will move to sell the building quickly to repay the banks.
There had been speculation that Chelsea football club owner Roman Abramovich might buy the iconic site. The appointment of an administrator would not stop Mr Abramovich from buying the site if he wished.
''This is the first time Battersea Power Station has ever been offered for sale on the open market,'' said Stephan Miles-Brown, head of residential development at agent Knight Frank, who is handling the sale. He said the company is anticipating considerable interest ''in a scheme that is among the most exciting in the world today''.
"Battersea Power Station is as iconic as the Chrysler Building in New York or the Eiffel Tower and familiar to people who may have never even been to London," he said. He added that the power station's next owner will have to take a "creative and long-term approach" to its future.
Knight Frank said expects to receive final bids in the autumn.
