Hong Kong’s richest man sets his sights on Battersea power station

Having dropped out of school at the age of 12 in order to support his family, Hong Kong’s richest man, Li Ka-shing, started his first business venture in the manufacture of toys and plastic flowers.

Since then, he has gone on to successfully create many other businesses, now employing 270,000 people globally, and can stake claims on having built 1 in 7 residences in Hong Kong.

Li Ka-shing’s latest sights are set on Battersea Power Station in South West London, which has been put up for sale by Nama (National Asset Management Agency) and Lloyds Bank after the owner of the site, Real Estate Opportunities, did not succeed in finding a venture partner.

Currently, Battersea power statin is a derelict site which is under partial control of Nama, and has attracted much interest from other potential buyers. The site expects to attract bids of between £250 million and £350 million, and has so far caught the attention of Berkeley Group Holdings, British Land Co. as well as Land Securities Group Plc in addition to Li Ka-shing.

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