David Cameron has hailed the redevelopment of Battersea Power Station as the jewel in the crown of London’s renewal.
“It felt like you were more likely to see a flying pig than a viable development” says Cameron
Writing in the Evening Standard the Prime Minister said that attracting overseas investment is the key to stimulating growth in Britain and his door is always open to potential investors.
“My message is the same, wherever I go, whomever I’m speaking to. If you want to invest in a stable democracy, where there are property rights and the rule of law, where business taxes are low and the red carpet is rolled out for entrepreneurs, then come to Britain,” he said.
Mr Cameron cites the transformation of the Olympic Village by a Qatari firm and the regeneration of Albert Docks by a Chinese developer as examples of what overseas investment can achieve.
But it is the renovation of Battersea Power Station by a Malaysian consortium that captures the Prime Minister’s imagination most of all.
“For me, the jewel in the crown has to be Battersea Power Station. Decades ago it was on the cover of a Pink Floyd album with a pig floating high above it – and for decades it felt like you were more likely to see a flying pig than a viable development there,” he said.
Mr Cameron lists the obstacles that discouraged redevelopment as the isolated location, poor public transport and a lack of political will.
He then goes on to claim a share of the credit for ‘rewriting the script,’ saying that making it part of the wider regeneration of Nine Elms, together with the extension of the Northern Line, were key factors in bringing the site back to life.
“In the years to come, those famous chimneys at Battersea won’t be a symbol of decay but a sign of renewal, proof that with effort and imagination we can make the most of this incredible city, encourage the world to invest here, and keep turning our economy around,” the Prime Minister concluded.
The redevelopment of Battersea Power Station is due to commence in October and is expected to take three years to complete.
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