Battersea developer says project provides huge boost to the British economy

Oliver Gill
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Stage One Of The Re-development Of Battersea Power Station Is Complete
Apple announced that it would be moving 1,400 of it employees to Battersea from 2021 (Source: Getty)

The developer behind the regeneration of Battersea Power Station has claimed that the project will provide a £20bn boost to the British economy.

An economic impact assessment by the Battersea Power Station Development Company (BPSDC) quantified the economic injection of the transformation and added that the project will have created over 20,000 jobs, according to reports in the Sunday Telegraph.

Read more: Apple is moving to Battersea Power Station in 2021

With house prices starting at £338,000 and peaking at £10m, the chief executive of BPSDC, Rob Tincknell said that 85 per cent of properties in the development had now been snapped up.

The news comes after it was confirmed on Wednesday that tech giants Apple would be leasing 500,000 square fee of space at the development from 2021 – moving 1,400 of its employees from Oxford Circus.

Read more: Guess which area paid half of last year's stamp duty?

However, the positive sentiment was tempered by Tincknell who criticised the overhaul of the stamp duty land tax regime. On Friday it was revealed by HM Revenue and Customs that London sales accounted for nearly half of all stamp duty paid in the last 12 months.

"The stamp duty changes were supposed to make London more affordable. In my opinion it has done exactly the opposite," said Tincknell.

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