The Telegraph has run the story: The future of Battersea Power Station is in doubt again after lenders to the Irish property company attempting to redevelop the site called in Ernst & Young as advisors.
As we have constantly voiced - the building of the Northern Line Extension is based on pretty big funding assumptions, including the redevelopment of the power station. We cannot move forward with Northern Line Extention until we are confident the private funded element of the extension is financially sound.
The tax payer, and local communities should NOT loose out when developers realise they have a short fall. Community funds from S106 and CIL payments cannot be eaten by overspend.
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