Clifford Chance has been chosen as legal counsel by the Battersea Power Station Development Company for phases two and three of construction. The total cost of these phases is £1 billion with the well-known Battersea Power Station undergoing significant redevelopment. Since 2012, Clifford Chance has been advising on the project along with Ashurst and Linklaters, with specific focus on the £1.96 billion debt restructuring and the extension of the Northern Line.
Clifford Chance is the last of the three firms advising the company, after winning the mandate for the next phase of construction. However, it is not the only firm cashing in on the lucrative Battersea Power Station scheme. The total development cost for the project is £8 billion which has seen many City real estate firms cash in. The recently deceased King & Wood Mallesons and Berwin Leighton Paisner also advised on a pre-let to Apple, which is set to move its headquarters into the old coal-fired power station in 2021.