Much fanfare and optimism over at Battersea recently when the owners - rather too effortfully we thought - trumpeted their optimism over the start of work on the site. According to the developers, lots of people have expressed an interest in the residential properties that have been proposed. Work starts on the power station too which to many fans appears to close the door on a Chelsea stadium there. Not so. There is a legal obligation upon the owners to start repair and listed building work immediately. The infrastructure plans for the power station do not actually begin for some time which still leaves plenty of room for Chelsea to come to some arrangement with the Malaysians over the building's eventual use. Phase 1 is residential and doesn't overly impact the solution Chelsea have planned. The commercial element of the site is further away.
Our understanding is that an offer is on the table that includes Chelsea paying for the expensive and somewhat bloody awkward repair and restoration work but that the funds won't be forthcoming until a deal over the land swap with Stamford Bridge is complete and nobody
appears to expect a resolution until the summer. It would seem the matter boils down to whether the development company can deliver before the Malaysian masters get nervous. Who will blink first?