Administrators acting for NAMA and Lloyds Banking Group in London have told RTÉ News they are optimistic they can sell the Battersea Power Station site on the River Thames in the first half of this year in order to recover as much of the debt as soon as possible. The asking price is reported to be in the region of £500m.
Battersea Power Station is on the market because a scheme backed by Irish developer Treasury Holdings collapsed. NAMA and Lloyds last year put the site in the hands of administrators, who are now trying to recover as much of the debt as possible.
The selling agents are billing the 39-acre site - and its listed building - as the last major undeveloped regeneration opportunity in central London. It is being advertised all over the world.
The site comes with planning permission for a residential, business and entertainment complex. The catch is that the buyer has to preserve the iconic building.
So far the former power station has had three owners since it was decommissioned three decades ago. All have failed to redevelop the site.
