Berkeley's £120m US Embassy plan

 

Housebulder Berkeley Group is looking to breathe new life into Battersea, south-west London, after spending more than £50m on land next to the planned replacement US Embassy.

Battersea Power station

Plans: The land is part of the Nine Elms regeneration area which includes the Battersea Power Station

The company has acquired a 6.5 acre site and aims to spend a further £70m building a complex to include a hotel, flats and offices to serve the new embassy.

The housebuilder, whose interim results on Friday are expected to show steady progress, is aiming to help cater for the influx of people at the new embassy, including 800 staff and 1,100 visitors each day.

The land is part of the 500-acre Nine Elms regeneration area, which includes the planned redevelopment of the Battersea Power Station and the New Covent Garden Market.

Work on the £500m embassy, which will replace the building in Grosvenor Square, central London, is expected to begin in 2013.

The embassy is being relocated for security reasons. An American architect will be appointed.