REO gets approval for Battersea development

INITIAL planning permission has been granted for the long-awaited £5.5 billion (€6.5bn) redevelopment of London’s Battersea Power Station site, which is owned by the London-based subsidiary of Treasury Holdings.

Real Estate Opportunities (REO) – which is controlled by Johnny Ronan and Richard Barrett’s Treasury Holdings – announced yesterday that Wandsworth Council had approved the project, which will see a mix of residential, retail, leisure and office development.

Final approval needs to come from the Mayor of London’s office and the Secretary of State for Communities and Local Government, but both are expected to back the plan.