Irish developer Treasury Holdings has bought London's Battersea Power Station from Parkview International in a £400m deal. The deal was structured through London-listed company Real Estate Opportunities, but Treasury will have a majority stake in the project, which includes 600,000 sq ft of retail.
Victor Hwang, president of Parkview, said: "Our first priority has always been to ensure that the regeneration of Battersea Power Station would be seen through to completion. We have given a great deal of effort to create a world class project in one of the world's greatest cities. I believe that we have found the right team in Ray Horney, chairman of REO, along with majority shareholders, Treasury Holdings."
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