Battersea power station from the Thames

The Battersea power station is more impressive seen from the river on a boat.

Battersea Power Station is a giant coal-fired station built in the 1930′s. Despite burning 4,000 tonnes of coal every week and boasting a power of 509 MWatts, it only supplied a fifth of London’s demand of electricity.

Abandoned since the early 1983, the site is currently under yet new planning application to build flats. House prices in Battersea are still 60% less expensive than in Chelsea.

The current owner of the site unsurprisingly posted millionaire losses in its last tax year. Unsurprising because of the nature of “listed brown land” and the rationale of speculative investment, in which losses are not always bad news. The development of the Battersea power station will remain a saga for years to come.