REO buys London's Battersea power station

Friday 26 January 2007 20.29
REO buys London's Battersea power station

Irish company Real Estate Opportunities has purchased London's Battersea power station and its surrounding lands for €595m.

The site covers 38 acres and was owned by Oriental Property, a company owned by the Hwang family which also controls 100% of Parkview International London.

Well-known property development company Treasury Holdings has a 60% stake in REO.

Battersea Power Station is one of the largest brick buildings in the world. It was built originally to generate coal-fired electricity in 1939 and production ended there in 1983. It was declared a heritage site in 1980.

It has now been earmarked for a big urban regeneration project which includes plans for housing, hotels, shops, and conference and exhibition facilities.