Battersea Owners Seek $790,000 for Studio Apartments

More than 500 homes at London’s Battersea Power Station, designed by Gehry Partners LLP and Foster & Partners, will be offered for sale this month. Prices start at 495,000 pounds ($790,000) for a studio apartment.

Battersea Power Station Development Co., owned by Malaysian companies including SP Setia Bhd. and Sime Darby Bhd., will eventually build more than 1,300 homes designed by the architects close to the defunct power plant, where part of The Dark Knight movie was filmed. Two-bedroom apartments in the new development phase are priced from 1.2 million pounds and four-bedroom homes will cost at least 3.2 million pounds.

The owners of the site on the River Thames are trying to turn the district into a prime address. London home values fell month-on-month for the first time in two years in September and further “modest” declines are likely as demand for housing slows, according to researcher Hometrack Ltd.

This is an “opportunity to be right above London’s newest pedestrianized high street and at the impressive gateway to the power station,” Rob Tincknell, chief executive officer of the developer, said in a statement. “The designs from Foster & Partners and Gehry Partners are unique.”