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| Version 1 | Version 2 |
|---|---|
| Battersea Power Station sale: Malaysian company beats Chelsea bid | Battersea Power Station sale: Malaysian company beats Chelsea bid |
| (about 2 hours later) | |
| Battersea Power Station in London has been sold to a Malaysian company, beating a rival bid from Chelsea Football Club. | Battersea Power Station in London has been sold to a Malaysian company, beating a rival bid from Chelsea Football Club. |
| SP Setia and Sime Darby have bought the 39-acre (15 hectare) site on the south bank of the River Thames for £400m. | SP Setia and Sime Darby have bought the 39-acre (15 hectare) site on the south bank of the River Thames for £400m. |
| In a statement, joint administrators from Ernst and Young said it had entered into an exclusivity agreement with the company. | In a statement, joint administrators from Ernst and Young said it had entered into an exclusivity agreement with the company. |
| Chelsea was one of 15 bidders for the former power station. | Chelsea was one of 15 bidders for the former power station. |
| As it is a private sale, it has not been revealed what the company plans to do with the site beyond the description of a "multi-use real estate regeneration project". | |
| However, planning permission to restore the power station, build new homes and create a London Underground station on the Northern Line already exists. | |
| 'Understands our vision' | 'Understands our vision' |
| Local planning authority Wandsworth Council said the deal was "potentially very good news". | Local planning authority Wandsworth Council said the deal was "potentially very good news". |
| Council leader Ravi Govindia said: "We're making tremendous progress towards transforming this old industrial stretch of the South Bank which will provide up to 25,000 new jobs for London. | Council leader Ravi Govindia said: "We're making tremendous progress towards transforming this old industrial stretch of the South Bank which will provide up to 25,000 new jobs for London. |
| "It's important that this site and its iconic building are not left behind and that a developer is brought in who understands our vision for the new Nine Elms." | "It's important that this site and its iconic building are not left behind and that a developer is brought in who understands our vision for the new Nine Elms." |
| Battersea, a Grade II listed building, opened in 1933 and generated power until 1983. | Battersea, a Grade II listed building, opened in 1933 and generated power until 1983. |
| It was acquired by Real Estate Opportunities, the majority owner of the holding company, in 2006, but last year creditors were called in following its £502m debt. | It was acquired by Real Estate Opportunities, the majority owner of the holding company, in 2006, but last year creditors were called in following its £502m debt. |
| Chelsea Football Club have been unavailable to comment. | Chelsea Football Club have been unavailable to comment. |