First-time buyers promised reduced-price homes at London's Battersea Power Station have been let down by the site's developer, which has cut the number of affordable homes it will make available, according to the Evening Standard newspaper. The first phase of a £1bn development is expected to be completed in 2017, but only around half of those who signed up for the scheme are likely to get their homes. BNP Paribas warns that it is “very unlikely” However, it has now said it will provide 386 affordable homes because the original offer may lead the project to become financially unviable.
First-time buyers promised reduced-price homes at London's Battersea Power Station have been let down by the site's developer, which has cut the number of affordable homes it will make available, according to the Evening Standard newspaper. The first phase of a £1bn development is expected to be completed in 2017, but only around half of those who signed up for the scheme are likely to get their homes. However, it has now said it will provide 386 affordable homes because the original offer may lead the project to become financially unviable.