The New York Times On Battersea;
One of Britain’s favorite celebrity chefs, Jamie Oliver, is on a mission to convert the world to healthy, can-do cooking. Last year he toured the United States, teaching Americans how to make classics like the hamburger healthier — a crusade that’s evolved into a series on ABC coming later this year. Back in Britain, he’s extended his empire with two food stores/culinary schools called Recipease, one in London’s chic Battersea district (48-50 St. Johns Road, SW11; 44-203-006-0001; recipease.com), the other in ever-trendy Brighton (72-73 Western Road, BN1; 44-845-279-7272).
NYT
Monday, 8 February 2010
Tuesday, 5 January 2010
Battersea: from London Industrial to London Luxury
Once at the centre of the London industrial sector, Battersea has reinvented itself over the past few decades and is now known to many as one of the most interesting boroughs of London. Battersea has always had a strong connection to the industrial sector because of its extensive history as well as the presence of the famous Battersea Power station, which makes the area an industrial focus within London.
As a result, it has not always been seen as the epitome of luxurious living. Battersea was established as a central industrial hub during the late 18th century. The area was seen as relatively poor, and experienced no major changes until the Battersea power station was built. The power station took ten years to construct and was completed in 1939. The London industrial power station has been a hot topic ever since its establishment, and recently the station has been under threat of being demolished. This is not the first time that the power station has been in the spotlight, a phenomenon that over the years has come to be known as “the curse of the Battersea power station. ”
The London industrial sector began to move slowly away from the area in the beginning of the 1970s and with this move, the government decided to try and revive the poverty stricken area with planned housing to replace post war homes. The historical nature of this London borough is not totally lost though, as much industrialdesign still remains. architecture and Estate agents in Battersea have recently announced that property in this area, as well as areas such as Wandsworth and Clapham are on the rise. This once industrial area in London is showing signs of property strength, as many houses are selling fast and selling activity is increasing.
Houses in Battersea and other South London boroughs are bringing in more interested viewers and the number of home bidders is also increasing. Many older properties are being developed, which will allow letting agents in Battersea to offer new rental opportunities to the public. Even though there are a few areas that still house industrial land, most of the factories have been replaced with luxurious housing.
The once workers-only pubs have reinvented themselves and are now home to trendy bistros and stylish bars. Battersea has some beautiful attractions including Battersea Park and Covent Garden Market. It has taken quite some time for Battersea to shake off its London industrial stereotype, but it’s successfully become one of the most desirable areas in which to live.
As a result, it has not always been seen as the epitome of luxurious living. Battersea was established as a central industrial hub during the late 18th century. The area was seen as relatively poor, and experienced no major changes until the Battersea power station was built. The power station took ten years to construct and was completed in 1939. The London industrial power station has been a hot topic ever since its establishment, and recently the station has been under threat of being demolished. This is not the first time that the power station has been in the spotlight, a phenomenon that over the years has come to be known as “the curse of the Battersea power station. ”
The London industrial sector began to move slowly away from the area in the beginning of the 1970s and with this move, the government decided to try and revive the poverty stricken area with planned housing to replace post war homes. The historical nature of this London borough is not totally lost though, as much industrialdesign still remains. architecture and Estate agents in Battersea have recently announced that property in this area, as well as areas such as Wandsworth and Clapham are on the rise. This once industrial area in London is showing signs of property strength, as many houses are selling fast and selling activity is increasing.
Houses in Battersea and other South London boroughs are bringing in more interested viewers and the number of home bidders is also increasing. Many older properties are being developed, which will allow letting agents in Battersea to offer new rental opportunities to the public. Even though there are a few areas that still house industrial land, most of the factories have been replaced with luxurious housing.
The once workers-only pubs have reinvented themselves and are now home to trendy bistros and stylish bars. Battersea has some beautiful attractions including Battersea Park and Covent Garden Market. It has taken quite some time for Battersea to shake off its London industrial stereotype, but it’s successfully become one of the most desirable areas in which to live.
Monday, 4 January 2010
Reuters Comments on Battersea Power Station
Battersea Power Station site at risk from repair delays
A gust of wind howls around Battersea Power Station, an industrial wasteland by the Thames whose coal-fired furnaces were once used by the Bank of England to burn millions of pounds worth of banknotes.
A couple of tourists who have ventured off the beaten track around Buckingham Palace stand on tiptoe as they strain to photograph the gargantuan structure over a high screen.
As debt-laden developers face the ruins of recent extravagance, the Power Station -- Europe's largest brick building -- is a decrepit symbol of the past profligacy and present pain in Britain's real estate market.
In World War Two the central bank turned to Battersea to burn 120 million pounds of notes it had not had time to cancel as it introduced a new design against feared enemy forgeries.
Now Battersea must consume much larger sums if it is to remain standing.
The art-deco icon, which won global recognition through appearances in movies such as Stanley Kubrick's "Full Metal Jacket" and on the cover of Pink Floyd's 1977 album "Animals", has been derelict for over a quarter of a century.
It has already passed through numerous developers' hands since stopping power production in 1983 as Britain shifted to oil, gas and nuclear.
Developers now are courting investors for a 5.5 billion pound ($8.9 billion) redevelopment just as banks remain focused on unscrambling exposure to commercial real estate. The market has shown signs of recovery recently but is still treacherous.
"The building is likely to suffer major structural damage in five years if full repairs don't start before then," said Jeremy Castle, chief planning director at Treasury Holdings UK, the power station's current developers, referring to damage sustained after the roof was removed 20 years ago.
"We need to move fast to redevelop the site because the building is deteriorating quickly," he said.
The two-year downturn in Britain sliced almost 45 percent off average commercial property values. The Power Station's owners, who bought it for 400 million pounds in 2006, say its value fell by 15 percent in the six months to end-June 2009, causing the company to breach terms on some of its loans.
Battersea's imposing white brick chimneys have been a popular feature of London's skyline for almost 80 years, but its brickwork is held together by metal straps. Many bankers and financiers say plans to redevelop it are a commercial anachronism in a city obsessed with skyscrapers.
YEARS OF DELEVERAGING
For Nick Collins, English Heritage's team leader for the east and south London, the listed Power Station is "one of the most important buildings at risk in the country.
"It stands in splendid isolation, it's seen and known and recognised so easily," he said.
Castle's employer Treasury Holdings is an Irish property firm that controls the Battersea site through a 67 percent share in debt-laden Real Estate Opportunities (REO.I) (REO.L).
REO says the debt taken out to buy the station is still performing, but part of it, along with the majority of its loan book, will be transferred to Ireland's bad bank, or the National Asset Management Agency (NAMA) next year.
The Irish government is paying 54 billion euros ($78 billion) to buy risky commercial property loans with a combined book value of 77 billion from banks to clean up the legacy of excessive lending.
Of an estimated 280 billion pounds worth of unpaid commercial property loans in the UK, more than a quarter are tied to poorer-quality assets, a problem also faced by other European countries, according to CB Richard Ellis (CBG.N), the world's largest real estate consultancy.
Sector experts say until banks have unwound their exposure to commercial real estate -- particularly smaller loans taken out by amateur investors which may have gone unnoticed in 2009 -- their ability to resume anything close to pre-crisis lending to property investors will be limited. [ID:nLEE5NF00C]
The process may take five years or longer, they add.
AMBITION AND CONTROVERSY
The power station is no stranger to controversy. When construction began in 1929 it sparked protest from people who thought it would be an eyesore and damage local buildings, parks and even paintings in the nearby Tate Gallery.
Sir Giles Gilbert Scott, the architect behind the red telephone box and the Bankside power station -- now the Tate Modern -- was drafted in to boost its appeal for local residents.
The "upside-down table" of four white chimneys, each a third of the height of the Eiffel Tower, was built over a 20-year period to form two separate power stations in one building.
Situated a stone's throw from a famous home for unwanted pets, the site passed into the hands of private developer John Broome for 1.5 million pounds in 1987 but costs escalated and it was later sold to Hong Kong-based development company Parkview International.
A one-table restaurant atop a 100 metre-high chimney was just one idea put forward by previous developers: an indoor theme park and high-class shopping mall have been others that generated little more than critical headlines for the site.
REO's plans -- central London's largest ever planning application -- were submitted in October 2009. At more than double the cost of a previous developer, they include an emphasis on residential and commercial office space including 3,700 new homes and 1.6 million square feet (149,000 square metres) of office space.
Financial crisis had put paid to earlier, more extravagant ideas including an "eco dome" and 300-metre (1,000 ft) tower.
Adventurous schemes have long been derided in Britain.
"Faneuil Hall in Boston city centre was an example of how our American cousins can redevelop a historic building and turn it into a great marketplace," said Chris Johnson, managing partner at architects firm Gensler, and the creator of the Gate in Dubai which houses the Dubai stock exchange.
"You can look at the Piers in San Francisco and see how they have been transformed into a great attraction."
HARD TO REACH
Part of the problem is that while the Power Station may be very easy to see, it is poorly served by public transport.
"You can build great things but no-one will go to them if it's too hard to get there," said Johnson, whose company is not involved with Battersea. "You will constantly keep increasing the cost of the overall project."
Developers are promising that a surrounding industrial area, one of few pockets of undeveloped land in central London, will by 2020 be transformed into a new business hub similar to Canary Wharf in London's east, with the extension of the Underground network. The area will also house the U.S. embassy.
"Previous projects for the Power Station site failed because they underestimated the costs of repairing the existing building, the transport links didn't deliver the capacity required and they failed to encompass the entire area," said Treasury's Castle.
FUELLED BY RECESSION
Local resident Brian Barnes says the economic downturn has, ironically, contributed to the enlarged scale of the latest plans.
"They bought it for 400 million pounds, that was the high end before the recession, they've had to revalue it downwards so its not worth what they paid for it, now they've got to do this over-the-top scheme to realise any profit," he said.
A gust of wind howls around Battersea Power Station, an industrial wasteland by the Thames whose coal-fired furnaces were once used by the Bank of England to burn millions of pounds worth of banknotes.
A couple of tourists who have ventured off the beaten track around Buckingham Palace stand on tiptoe as they strain to photograph the gargantuan structure over a high screen.
As debt-laden developers face the ruins of recent extravagance, the Power Station -- Europe's largest brick building -- is a decrepit symbol of the past profligacy and present pain in Britain's real estate market.
In World War Two the central bank turned to Battersea to burn 120 million pounds of notes it had not had time to cancel as it introduced a new design against feared enemy forgeries.
Now Battersea must consume much larger sums if it is to remain standing.
The art-deco icon, which won global recognition through appearances in movies such as Stanley Kubrick's "Full Metal Jacket" and on the cover of Pink Floyd's 1977 album "Animals", has been derelict for over a quarter of a century.
It has already passed through numerous developers' hands since stopping power production in 1983 as Britain shifted to oil, gas and nuclear.
Developers now are courting investors for a 5.5 billion pound ($8.9 billion) redevelopment just as banks remain focused on unscrambling exposure to commercial real estate. The market has shown signs of recovery recently but is still treacherous.
"The building is likely to suffer major structural damage in five years if full repairs don't start before then," said Jeremy Castle, chief planning director at Treasury Holdings UK, the power station's current developers, referring to damage sustained after the roof was removed 20 years ago.
"We need to move fast to redevelop the site because the building is deteriorating quickly," he said.
The two-year downturn in Britain sliced almost 45 percent off average commercial property values. The Power Station's owners, who bought it for 400 million pounds in 2006, say its value fell by 15 percent in the six months to end-June 2009, causing the company to breach terms on some of its loans.
Battersea's imposing white brick chimneys have been a popular feature of London's skyline for almost 80 years, but its brickwork is held together by metal straps. Many bankers and financiers say plans to redevelop it are a commercial anachronism in a city obsessed with skyscrapers.
YEARS OF DELEVERAGING
For Nick Collins, English Heritage's team leader for the east and south London, the listed Power Station is "one of the most important buildings at risk in the country.
"It stands in splendid isolation, it's seen and known and recognised so easily," he said.
Castle's employer Treasury Holdings is an Irish property firm that controls the Battersea site through a 67 percent share in debt-laden Real Estate Opportunities (REO.I) (REO.L).
REO says the debt taken out to buy the station is still performing, but part of it, along with the majority of its loan book, will be transferred to Ireland's bad bank, or the National Asset Management Agency (NAMA) next year.
The Irish government is paying 54 billion euros ($78 billion) to buy risky commercial property loans with a combined book value of 77 billion from banks to clean up the legacy of excessive lending.
Of an estimated 280 billion pounds worth of unpaid commercial property loans in the UK, more than a quarter are tied to poorer-quality assets, a problem also faced by other European countries, according to CB Richard Ellis (CBG.N), the world's largest real estate consultancy.
Sector experts say until banks have unwound their exposure to commercial real estate -- particularly smaller loans taken out by amateur investors which may have gone unnoticed in 2009 -- their ability to resume anything close to pre-crisis lending to property investors will be limited. [ID:nLEE5NF00C]
The process may take five years or longer, they add.
AMBITION AND CONTROVERSY
The power station is no stranger to controversy. When construction began in 1929 it sparked protest from people who thought it would be an eyesore and damage local buildings, parks and even paintings in the nearby Tate Gallery.
Sir Giles Gilbert Scott, the architect behind the red telephone box and the Bankside power station -- now the Tate Modern -- was drafted in to boost its appeal for local residents.
The "upside-down table" of four white chimneys, each a third of the height of the Eiffel Tower, was built over a 20-year period to form two separate power stations in one building.
Situated a stone's throw from a famous home for unwanted pets, the site passed into the hands of private developer John Broome for 1.5 million pounds in 1987 but costs escalated and it was later sold to Hong Kong-based development company Parkview International.
A one-table restaurant atop a 100 metre-high chimney was just one idea put forward by previous developers: an indoor theme park and high-class shopping mall have been others that generated little more than critical headlines for the site.
REO's plans -- central London's largest ever planning application -- were submitted in October 2009. At more than double the cost of a previous developer, they include an emphasis on residential and commercial office space including 3,700 new homes and 1.6 million square feet (149,000 square metres) of office space.
Financial crisis had put paid to earlier, more extravagant ideas including an "eco dome" and 300-metre (1,000 ft) tower.
Adventurous schemes have long been derided in Britain.
"Faneuil Hall in Boston city centre was an example of how our American cousins can redevelop a historic building and turn it into a great marketplace," said Chris Johnson, managing partner at architects firm Gensler, and the creator of the Gate in Dubai which houses the Dubai stock exchange.
"You can look at the Piers in San Francisco and see how they have been transformed into a great attraction."
HARD TO REACH
Part of the problem is that while the Power Station may be very easy to see, it is poorly served by public transport.
"You can build great things but no-one will go to them if it's too hard to get there," said Johnson, whose company is not involved with Battersea. "You will constantly keep increasing the cost of the overall project."
Developers are promising that a surrounding industrial area, one of few pockets of undeveloped land in central London, will by 2020 be transformed into a new business hub similar to Canary Wharf in London's east, with the extension of the Underground network. The area will also house the U.S. embassy.
"Previous projects for the Power Station site failed because they underestimated the costs of repairing the existing building, the transport links didn't deliver the capacity required and they failed to encompass the entire area," said Treasury's Castle.
FUELLED BY RECESSION
Local resident Brian Barnes says the economic downturn has, ironically, contributed to the enlarged scale of the latest plans.
"They bought it for 400 million pounds, that was the high end before the recession, they've had to revalue it downwards so its not worth what they paid for it, now they've got to do this over-the-top scheme to realise any profit," he said.
Monday, 21 December 2009
FIRST-TIME BUYERS IN SHORT SUPPLY
According to the National Association of Estate Agents (NAEA), the number of first-time property buyers has declined in the past six months. Just under a fifth of those registered with estate agents were buying for the first time last month, compared with 43 percent six months ago. The NAEA forecasts that the percentage of first-time buyers will continue to decline in January as a result of the government's decision not to extend the stamp duty holiday.
Wednesday, 9 December 2009
Tuesday, 24 November 2009
Tuesday, 3 November 2009
Battersea Fireworks Display
Battersea Park Famous Fireworks Display will take place on Saturday 7th November 2009.
The bonfire lit at 7.30pm and fireworks due to start at 8pm.
Admission is £6.00 with a £1.00 charge for kids under 10 years old. Nearest train: Battersea Park or Queenstown. Nearest Tube: Pimlico
The bonfire lit at 7.30pm and fireworks due to start at 8pm.
Admission is £6.00 with a £1.00 charge for kids under 10 years old. Nearest train: Battersea Park or Queenstown. Nearest Tube: Pimlico
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