€6.5bn green light for Battersea plan

A PROPERTY company controlled by Irish developers Treasury Holdings has been given the green light for a €6.5bn development in the heart of London.

The mixed residential, retail, leisure and office venture will be born out of the redevelopment of the Battersea Power Station site. It will create 25,000 jobs — 15,000 of them within the power station building — and will include the construction of 16,000 homes in the city.

Part of the construction project will include a new Tube station on the Northern Line of the London Underground, which will be the first ever privately funded extension to the city’s underground rail network.