THE REDEVELOPMENT of Battersea power station has moved a step closer with the submission of the largest planning application on record in central London.

Treasury Holdings, the developers of the south London landmark, is proposing a £5.5 billion (€6 billion) regeneration scheme, which includes more than 1.7 million sq ft of new buildings.

The latest proposals mark a scaling back of previous plans for the 40-acre site, which had included a glass chimney above the derelict power station, after a lengthy period of consultation.

The latest incarnation of the project, which includes 3,700 homes, 1.6 million sq ft of office space and 500,000 sq ft of retail and restaurant space, was registered with Wandsworth council at the weekend. It is owned by Real Estate Opportunities, the listed property company controlled by Irish developers John Ronan and Richard Barrett.

The site stopped operating as an electricity station in 1983, and has since been the centre of numerous attempts to create ambitious property schemes, given its size and location on the bank of the Thames.

“We are extremely confident that two years of detailed discussions mean that this masterplan represents the aspirations and concerns of all the stakeholders involved, not least the Battersea community,” said managing director Rob Tincknell.

Treasury Holdings also said it was continuing to develop plans for a proposed extension of the Northern Line from Kennington to two new stations at Nine Elms and Battersea power station. –