Battersea Power Station project approved December 31, 2010 Home Property News London mayor Boris Johnson has approved plans for the redevelopment of Battersea Power Station, which will create 16,000 new homes. Battersea Power Station, a grade II listed building, is located on the south bank of the river Thames in Battersea, South London. Although decommissioned in 1983, the coal-fired power station has become one of the world’s best-known landmarks due to its iconic four-chimney layout. It was featured in the Beatles’ 1965 movie Help! and on the cover art for Pink Floyd’s 1977 album, Animals. Since its closure the site has remained unused, as previous redevelopment projects from successive owners have failed. The central London landmark is now owned by Irish company Real Estate Opportunities, who purchased it for £400 million (US$620 million) in November 2006. The proposal to redevelop the Battersea Power Station site was approved by Wandsworth city council in November but, due to the significance of the building, it was referred to the London mayor. The Battersea Power Station project is part of a wider regeneration scheme for the Vauxhall, Nine Elms, Battersea area. It will create 25,000 jobs, 16,000 new homes and feature a park with leisure and retail facilities. "Battersea Power Station has long been an iconic feature of the capital's skyline, and these plans will make sure that status is retained for years to come," says Johnson. "The building was once a vital motor helping to power the capital. With its future secured through this regeneration, it will once again play a part in driving London’s economy."