REO plans to float power station site

REAL Estate Opportunities (REO) – the international property development company in which Treasury Holdings owns a majority stake – is planning to spin off its Battersea Power Station site in London and float it as a separate listed business.

The idea behind the proposed move is to attract more investors to the Battersea project by not having the asset directly linked with REO’s Irish property portfolio.

REO bought the iconic 30-acre site for €595 million at the end of 2006 and, last year, lodged the largest ever multi-purpose planning application for retail, leisure, business and residential use in London’s history.