Buyers circle as Battersea owners consider sell-off

The chimneys of Battersea Power Station have been through a lot in the past four decades.

- Emma Haslett

After it was closed in 1983, developers considered turning it into a theme park, then a football stadium. Three years ago, it finally reopened to the public as a high-end shopping mall. Now, it might go through yet another iteration - forming the basis of one of the largest real estate deals since the beginning of the pandemic.

This week, Permodalan Nasional Bhd and the Employees Provident Fund, two Malaysian funds that together bought the office and retail components of the building as part of a restructuring in 2019, confirmed that they have appointed the French bank BNP Paribas to advise on a potential sale of those assets.