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.