The Financial Times writes that, while this week’s £400m sale of Battersea Power Station may have made sense to its owner, Victor Hwang, the Taiwanese property developer who bought the building for £10m in 1993, it still leaves the iconic building no nearer to redevelopment.
The FT writes that Hwang’s decision to “bale out” by selling to Johnny Ronan and Richard Barrett raises questions once more about whether the grandiose dreams of its successive owners for theme parks and luxury housing can ever be realised.
References: Financial Times 02/12/06 page 17
