Mayor launches £1bn Lots Road Power Station redevelopment

Under the plans by developer Hutchison Whampoa Properties, eight acres of derelict land surrounding the former power station will be transformed into a scheme of 10 separate buildings, including the power station and two towers of 25 and 37 storeys, to comprise 706 new flats, of which 275 will be affordable, shops, restaurants, a health club and two new public squares.

The power station itself, which was built in 1904 and decommissioned in 2002, will be redeveloped into 260 homes. The plans will open up 600 metres of walkway on the north bank of the Thames and three bridges will be built across Chelsea Creek.

The scheme, which straddles the authority area of the London Borough of Hammersmith and Fulham and the Royal Borough of Kensington & Chelsea, was granted planning consent in 2006.

"The towering Lots Road Power Station is a magnificent reminder of our Victorian heritage," said Johnson in a statement. "Originally built to help power London’s underground over 100 years ago, it is now helping to provide the new homes and jobs necessary to secure this city’s future prosperity. It is fantastic to see this historic section of London’s riverside being restored and returned to the public."

“We find London an excellent place to invest, with the River Thames providing the perfect backdrop for our innovative, high-quality design," said Hutchison group managing director Raymond Chow. "Like Montevetro and Albion Riverside before it, Chelsea Waterfront will become a key part of the local community and an iconic feature on the London skyline.”