Hong Kong’s richest man is running the rule over Battersea power station, the derelict landmark on London’s Thames that is partly under the control of the National Asset Management Agency (Nama), writes Oliver Shah.
Hutchison Whampoa, the ports to telecoms conglomerate run by the octogenarian billionaire Li Ka-shing, is among a gaggle of would-be buyers examining the site.
Battersea was put up for sale by Nama and Lloyds Bank through Ernst & Young and Knight Frank after its owner, Real Estate Opportunities, the developer linked to Johnny Ronan and Richard Barrett’s Treasury Holdings, failed to find a joint venture partner.
Hutchison is redeveloping Lots Road power station at nearby Chelsea Harbour. Other parties looking at the Battersea plot include Berkeley Group, the housebuilder and middle eastern sovereign wealth funds.