Home sales slide in Battersea Nine Elms

7 February 2020

Financial Times
Less than 24 hours after the Conservative party victory in December’s general election, interest in south London’s prime property market was already picking up.

“I had a businessman from the United Arab Emirates, who had been sitting on the fence for months, call me up and say: ‘Let’s move,’” says Marc von Grundherr, a director of estate agency Benham & Reeves.

Later that day, they were finalising a deal worth £1.7m for a three-bedroom apartment in Battersea Power Station, the much-loved industrial building being converted into high-end homes on the south bank of the Thames.

Developers in the wider Nine Elms area — the vast regeneration project surrounding the power station — will be hoping post-election optimism will ripple outwards. Parts of the area, which will eventually see the completion of 20,000 new homes, as well as landmark new office projects, still resemble a building site. And home sales have slipped recently.

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