The ongoing embarrassment that is south west London's historic Battersea Power Station site entered a new stage yesterday with council approval for a £5.5bn project, promising two new Northern Line tube stops, shops, office space and 3,400 new homes, 517 of which will be affordable housing. The original building will be protected (although the chimneys are apparently "beyond repair" and will need to be demolished and rebuilt). Interestingly, the plan includes using the chimneys and power plant to drive a green energy project, run by bio-fuel... which somehow manages to just add another layer of implausibility to a project that follows countless others that have ultimately come to nothing. We hope we're wrong... but I'm sure we're not alone in taking all this with a pinch of salt, especially in the current economic climate.

Read some background to the whole Battersea Power Station fiasco here.
Technorati Tags: property, real estate