Malaysian consortium beats Chelsea FC in bid for London icon

SP Setia and Sime Darby bid ₤400 million for Battersea Power Station.

Malaysian consortium beats Chelsea FC in bid for London icon

Malaysian developers SP Setia and Sime Darby Property have become preferred bidders for the iconic Battersea Power Station in south-west London. The two companies signed an agreement yesterday to pay 400 million $620 million for the site, beating offers from more than a dozen rival bidders that included Chelsea Football Club.

The consortium is expected to develop the previous owners’ plans for converting the 1930s art deco building into 3,400 new homes at a cost...

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