Apple’s recent announcement that it is to create a spectacular new headquarters at Battersea Power Station has been welcomed by leading interdisciplinary property consultants McBains Cooper, which is advising the banks behind the £9 billion redevelopment of the iconic building.
The iPhone and iPad maker’s plan to move 1,400 staff from eight sites around the capital into what it calls “a new Apple campus” at the Grade II* listed former electricity generator, gives the whole project a vital lift at a key early stage, said the consultancy.
McBains Cooper was initially appointed in 2013 to advise the consortium of lenders behind the redevelopment of Battersea Power Station Phase 1 (Circus West), including CIMB Bank, HSBC, Standard Chartered, Maybank and OCBC which was followed by appointment on both Phases 2 & 3 by a further consortium again led by CIMB. Providing project monitoring and technical advisory services, its due diligence concentrates on programme, development costs, contractual arrangements, procurement, planning and site conditions – highlighting risks and proposing solutions under the financial agreement. This lately included reviewing technical aspects of Apple’s lease and what the technology giant requires for its new state-of-the-art HQ.
A spectacular rooftop garden will be a key feature of Apple’s lease of 471,000 square feet of office space at the site, which will also include a large reception, lounge and atrium with a series of pod type offices and meeting rooms.
Richard Davies, Director at McBains Cooper commented:
“To get a world-renowned name like Apple into Battersea Power Station as an anchor tenant at this early stage, with work not due to complete on the Power Station until 2020, is a real coup. Being a part of the scheme this early means they can have a real say in the, design and build of their space, which is ideal for any tenant and developer
“The news of Apple coming in, just ahead of the first residents moving into apartments on the site around Christmas, reinforces the confidence and positive belief in the development. More widely it will help steady post-Brexit UK business nerves as it signals that a popular and progressive global consumer brand strongly believes in London as a great place to live and work, both now and for many years to come.”
Phase II of the project involves the restoration and conversion of the actual power station, considered the largest brick building in Europe, including the dismantling and rebuilding of the four chimneys. Around 250 apartments are set to be created within and above the original building, together with offices, shops and restaurants, leisure and recreation facilities, an auditorium and rooftop gardens.
Phase III will see the construction of 1,300 homes, a medical centre, a 160-bedroom hotel and 350,000 square feet of retail, restaurant and leisure space. Constructed either side of a new pedestrianised high street named ‘Electric Boulevard’, phase III will act as the main gateway into the 42-acre site, linking it with the new station for the Northern line extension.
The north west chimney of the building will feature a glass viewing lift taking visitors over 100m into the sky for breathtaking views across London while riverside walks between Battersea and Vauxhall will open up the whole complex to leisure visitors, tourists and day trippers.
Richard Davies added:
“The completed Battersea Power Station project will be a real must destination for people to live, work and visit, helping to revitalise this whole area of south west London.”
Notes to editors:
- McBains Cooper is a consulting and design agency specialising in property, infrastructure and construction. It has operations in the UK, Europe, the Mediterranean rim, USA and Latin America. For further details or McBains Cooper interviews please contact Alan Wheeler [email protected] +44 (0)208 579 6349
- Battersea Power Station redevelopment:
Phase 1:
Conversion to a mixed-use development comprising 866 modern residential units, including roof top penthouses overlooking the Thames and Power Station. Creation of elevated gardens and the ‘Winter Garden’ that will provide usable outside space all year around, whilst the penthouses will have private rooftop terraces. Circus West residents will also have access to a 5,000sq ft private Residents Club designed by David Linley – featuring a bar, private dining space, library, business centre and cinema. The UK government is supporting the scheme for a £1billion loan and a guarantee to extend the Northern Line underground to Nine Elms and Battersea.
Phase 2:
The £600m redevelopment of the power station building, which constitutes the main element of the second phase, features retail and events space on the lower floors, 58,000m2 of offices above and 248 flats crowning the building. The scheme also incorporates a circular glass lift that will merge out of the top of one of the building’s rebuilt chimneys, giving visitors views across London. Phase 2 also focuses on the repair and restoration of the historic structure itself, including the iconic 100m tall chimneys.
Phase 3
Phase Three, a key part of the regeneration of the Battersea site includes new homes and a new high street, known as The Electric Boulevard, in an area to the south of the landmark Battersea Power Station. The Electric Boulevard will be the main gateway to the 42-acre development, connecting the Northern Line Extension station with the Power Station. The phase includes more than 1,300 homes in a range of sizes and styles in two zones on either side of the boulevard, as well as a 160-room hotel, retail spaces, restaurants and leisure facilities. Phase 3 also includes plans for the 1.1-acre Prospect Park, a communal park for residents and the public to the east of Prospect Place. The park will link Battersea Power Station to the planned new £620 million US embassy in Vauxhall, and will include a children’s play area and a 1,900 square metre community hub building.