Battersea Power Station is go

The developer of the Battersea Power Station site won final approval for its regeneration plan yesterday, which is now due to begin in 2012. Real Estate Opportunities got the green light from secretary of state for communities and local government Eric Pickles for the £5.5bn scheme yesterday, following earlier approval from the Mayor of London and Wandsworth Council. The firm plans to build 3,400 new homes alongside offices, restaurants and a conference centre at the 10m square foot site, and has hired Walkie Talkie architect Raphael Vinoly to design the landmark project. Real Estate Opportunities shares rose 28 per cent after the announcement yesterday. Battersea Power Station has been shut for almost 30 years, but the site is set for a revamp that will include the new US embassy building.