Battersea Owners Win U.K. Approval for $8.9 Billion Development
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The owners of Battersea Power Station, the derelict London landmark that closed 28 years ago, won U.K. government approval to build apartments, stores and offices on the site and can now proceed with the 5.5 billion-pound ($8.9 billion) project.
“This marks the final decision in the planning application process,” project manager Treasury Holdings said in a statement today. Building work is due to begin in 2012, the company said.