Battersea Power Station is to be sold for a record £1.6 billion after the spiralling cost of restoration threatened the future of London’s flagship regeneration project.
The proposed deal, announced on the Malaysian stock exchange this morning, would make the Grade II* listed former generator the most expensive building ever to change hands in Britain, dwarfing the £1.3 billion paid for the “Walkie Talkie” City skyscraper last year.