Battersea Power Station offered for sale

One of the UK's most striking buildings is to be offered for sale on the open market for the first time in its history.

Battersea Power Station in south London has been vacant since being decommissioned in 1983.

Planning permission for a £5 billion development including homes, offices, a hotel, retail and leisure facilities was secured for the site from Wandsworth Council last year.

The scheme includes a £200 million contribution towards connecting the power station to the Tube network by extending the Northern line from Kennington.

It would also mean the creation of 25,000 jobs - 15,000 of them within the power station building - and the construction of 16,000 homes.

The proposals were put forward by former owner Treasury Holdings.

Stephan Miles-Brown, head of residential development at agent Knight Frank, who is handling the sale, said: "This is the first time Battersea Power Station has ever been offered for sale on the open market.

"As one of the UK's most recognisable landmarks, Knight Frank anticipates considerable interest in a scheme that is among the most exciting in the world today.

"Battersea Power Station is as iconic as the Chrysler Building in New York or the Eiffel Tower and familiar to people who may have never even been to London."

He added that the power station's next owner will have to take a "creative and long-term approach" to its future.

Knight Frank expects to receive final bids in the autumn.

PA