Battersea Power Station – phase 2 of construction
BNP Paribas Real Estate is acting as the fund monitor during the latest phase of construction and redevelopment on the iconic Battersea Power Station.
The challenge
We were instructed to act as fund monitor on phase two of construction for a joint venture between The Employees Provident Fund Board of Malaysia and Permodalan Nasional Berhad. The scale and complexity of the project is huge, with up to 3,000 operatives on site daily working to deliver the scheme, which includes an 118-unit shopping centre, a 500,000 sq ft office scheme, a leisure complex, banqueting suite and 252 residential units.
The solution
BNP Paribas Real Estate was ideally suited to the role, having worked on a scheme of a similar size delivered under the same procurement method. The team quickly established the risks posed and offered commercial advice on methods of mitigation to be adopted during the remainder of the project.
“We have been instructed to act as the fund monitor on the construction of this iconic mixed-use development, which will include Apple’s new European headquarters as well as the UK’s largest energy centre.“