Sales open for flats in Battersea Power Station in May - but at £800,000 for a studio they aren't cheap

An artist's impression of an apartment living room at the Battersea Power Station (PA)

For more than 30 years it has lain abandoned and derelict on the south bank of the River Thames, but Battersea Power Station is about to be reborn as a luxury residence – with towering asking prices to match its vast white chimneys.

Studio apartments will be available for £800,000 and four-bedroom homes for £4 million, according to designs released by developers today ahead of a “London-only” sales launch on 1 May.

Now owned by a consortium of Malaysian investors, the 39-acre site is being completely revamped to include a six-acre public park, office space for 5,000 people, 200 shops and restaurants and 254 homes - many with their own private outdoor space.

The homes fall into two styles across three different locations of the landmark building: The Switch House East, The Switch House West, and Boiler House Square.

Boiler House Square will be on top of the tall, central Boiler House between the chimneys with two new storeys built around an open, landscaped garden square with a central skylight, while Switch House East and West will lie on the longer, lateral flanks of the power station.