Chelsea FC submit bid for NAMA-controlled Battersea Power Station

Chelsea FC submit bid for NAMA-controlled Battersea Power Station

Battersea Power Station

Champions League and FA Cup finalists Chelsea FC have confirmed that they have submitted an offer to acquire the 39-acre Battersea Power Station site from the National Asset Management Agency.

The offer was made today through the club’s property development partner Almacantar.

Battersea was bought by Irish company Real Estate Opportunities in November 2006 for close to €600 million using money from Bank of Scotland and Bank of Ireland with NAMA taking over the debt last year.

Chelsea owner Roman Abramovich had been linked with a bid for the site from the moment that NAMA and Lloyds announced they were looking for a buyer for it and now Chelsea are set to move ahead with plans to build a new 60,000 seater stadium there.

In a statement the club said: “Our joint bid was submitted in accordance with the sales process established by the Joint Administrators for the site. The process could run for a number of months.

“We are not the only interested parties and there is no certainty that we will be successful. We also appreciate that we have many significant hurdles to address if we are to build a new stadium on the site, including winning the support of our fans, the CPO shareholders and local Wandsworth residents, as well as securing the approval of Wandsworth Council, the Greater London Authority and heritage authorities. We must also stress that making an offer for the Battersea Power Station site does not mean the club has made a definitive decision to leave Stamford Bridge.

“Working with architects and planning experts we have developed a plan to preserve all the significant aspects of Battersea Power Station. The four iconic chimneys and wash towers along with the Grade II listed west turbine hall and control room will be restored and retained in their original locations and provide a unique architectural backdrop to a world-class stadium with a capacity of around 60,000 seats.

“Following feedback from fans, our initial plans include a 15,000-all seated one-tier stand behind the south goal, likely to be the biggest one-tier stand in football. Also as suggested by many fans, the stadium proposed is rectangular in shape with four separate stands. The design includes a bigger family area and more room for disabled supporters.

“As well as a new home for our club, the development would include a town centre with substantial street-level retail shops, affordable housing and offices – all of which would benefit Wandsworth and bring a significant number of permanent jobs to the area. We would also make a significant contribution towards the Northern Line Extension, a new high-volume transport link proposed for the area.”

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