Administrators acting for NAMA and Lloyds Bank have said they are optimistic they can sell Battersea Power Station in the first half of this year to recover as much of the debt as soon as possible.
The asking price for the 39-acre site on the River Thames is reported to be in the region of €500m after a scheme backed by Irish developers Treasury Holdings collapsed.
Selling agents are billing the site and its listed building as the last major undeveloped regeneration opportunity in central London.
The site comes with planning permission for a residential, business and entertainment complex, however, the purchaser has to preserve the iconic structure.
So far the former power station has had three owners since it was decommissioned three decades ago and all have failed to redevelop the site.
Meanwhile, Irish developers Ballymore, who have agreed a debt reduction plan with NAMA, have got planning approval for its 15-acre site.
NAMA now holds so much land in London it is trying to avoid driving down values.
