Battersea Power Station Owner Takes $208 Million Impairment - Bloomberg
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Battersea Power Station Owner Takes $208 Million Impairment

  • Social distancing measures, lockdown slowed construction
  • Charge modest relative to project value, developer says
The Battersea Power Station development project in London, on June 30.Photographer: Simon Dawson/Bloomberg
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The owner of London’s Battersea Power Station took an impairment charge of about 156 million pounds ($208 million) on the project after social distancing measures and a nationwide lockdown slowed construction.

The charge for Battersea Project Holding Company Ltd, UK was related to works in progress on the site, SP Setia Bhd, a 40% shareholder in the development, said in a filingBloomberg Terminal last week. The value of the overall project, which includes office buildings and thousands of apartments, is about 9 billion pounds, a person with knowledge of the matter said.

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