The development firm behind Battersea Power Station has had a rise in profits despite construction delays.
The Malaysian-backed consortium behind the Thameside building and its surroundings made profits of £1.1 million for the year to the end of June 2018 from £179,000 the year before, accounts filed with Companies House showed on Tuesday.
The project, overseen by the Battersea Power Station Development Company — which bought the site in 2012 — will see the main building house a cinema, a food court and 100 shops across two distinct retail centres, as well as Apple’s new headquarters, by 2021.
The wider site hosts flats and more office space, but more than 250 apartments being built on the south bank of the river are behind schedule with some buyers recently reclaiming their deposits and walking away.
The BPSDC makes most of its money from managing the property development and offering estate management services.
It is owned by Malaysia’s Sime Darby (40%), SP Setia (40%) and the Employees’ Provident Fund (20%).
