Battersea Power Station’s owner in administration

Tue, 13 Dec 2011 | BUSINESS SALE

Battersea Power Station’s owner was placed into administration yesterday by a London judge in a High Court hearing.

The move into administration was requested by creditors, and led by Lloyds and the Ireland-based National Asset Management Agency.

The troubled Irish property company Real Estate Opportunities Plc (REO) owes its creditors over £500 million.

Ernst & Young has now been appointed as the administrator to sell the site or the debt to recover the amount owed. The creditors initially called in the loans on 29 November, and REO was inviting offers for its controlling stake in the site soon after.

REO was granted planning permission for a £5.5 billion redevelopment of the 38-acre site one year ago. The plans include a promise to give more than £200 million to the extension of a London Underground line.

“Battersea Power Station is an iconic building and the associated parcels of land under administration are attractive assets with a great deal of development opportunity”, said Alan Bloom, joint administrator, to the Guardian.

“With such a large piece of prime real estate development land there are many stakeholders and during the administration process we will be working very closely with all parties,” he added.

Read our story on Battersea Power Station close to entering administration.

Share this article

Latest Businesses for Sale

Pizza & Kebab Shop
East London, South East, UK

Fully equipped pizza and kebabs takeaway and delivery. Please note the purchase of this business is subject to entering into a franchise agreement, full details available upon request. Offers invited.

Asking Price: £175,000
Turnover: £528,000


Italian Restaurant
Buckinghamshire, UK Wide

Spacious licensed restaurant. Outstanding opportunity to acquire a quality Italian Restaurant which has been in the same hands for the past 32 years. Offers invited.

Asking Price: £150,000
Turnover: £576,000


Italian Restaurant
West Sussex, UK Wide

Most Attractive Licensed Italian Restaurant Plus Café & Coffee Shop in the same hands for the past 30 years. Offers invited.

Asking Price: £145,000
Turnover: £576,000


View more businesses for sale

News Search

Latest News


Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...


Prominent stationery supplier enters administration | ADMINISTRATION

Another British high street retailer has fallen victim to th...


Buyer sought for Leeds pub group | ADMINISTRATION

Administrators for pub group headquartered in Leeds are on t...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Housebuilder turnaround may net owners a fortune | BUSINESS SALE

Derbyshire-based Avant Homes is reportedly being groomed for...


Standard Life Aberdeen sells insurance arm to Phoenix | BUSINESS SALE

Standard Life Aberdeen (SLA) has revealed it is selling its ...


Battersea Power Station sold to Malaysian investors in £1.6bn deal | COMMERCIAL PROPERTY

London Thameside landmark Battersea Power Station is being s...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources