Bahrain firm acquires site next to Battersea Power Station

Bahrain-based real estate investment firm Investate Realty has acquired a 4.5 acre waterfront site in London.

Tideway Wharf, the proposed £325m residential scheme, will be located at the bank of the Thames in Nine Elm on a site currently occupied by the Tideway Industrial Estate.

Overlooking Chelsea, the site is adjacent to the Battersea Power Station site that is currently being master planned by Rafael Vinoly for a large-scale redevelopment.

The Nine Elm corridor has been designated as an ‘opportunity area’ by the Greater London Authority master plan to attract new housing.

It is the first real estate investment the Bahrain firm has made in London.

Salah Nooruddin, Investate chief executive officer, said: “To have secured such a rare development site as Tideway is a fantastic way to commence our expansion into Europe.”

Investate is leading a consortium of prominent Middle Eastern investors in the project, including The First Investor from Qatar, Rashed Al Rashed & Sons Group from Saudi Arabia and Omniyat Holdings from the UAE.

Nooruddin said: “We believe this is an excellent time to be entering into the London market for a number of factors.

“London’s position as the financial capital of the world makes it the preferred residential destination of the world’s elite and as such, over the long term, its limited supply of central prime residential real estate will always outstrip demand.”