US Embassy moves from Mayfair to Nine Elms in Battersea

Musings of a London Property Search Agent

The US embassy has signed a conditional agreement with developers Ballymore to acquire a site next to Battersea Power Station at the Nine Elms development to construct a new sustainable American Embassy.

€œThis has been a long and careful process,€ said Ambassador Robert Tuttle, who has led the search for a new site. €œWe looked at all our options, including renovation of our current building on Grosvenor Square. In the end, we realized that the goal of a modern, secure and environmentally sustainable Embassy could best be met by constructing a new facility. I’m excited about America playing a role in the regeneration of the South Bank of London.€

The agreement is subject to planning permission and agreement by Congress, however the existing embassy site will be offered for sale almost immediately for an estimated £500 million and is likely to give rise to the most expensive homes in the capital, given the location of the existing site in central Mayfair, minutes from Shepherd Market and Hyde Park.

The shock move comes as a double-edged sword for existing Mayfair residents, some of whom enjoy increased protection being as they are within the embassy compound.  Number 2 Curzon Street is one such property which has been beautifully renovated in a traditional Mayfair style and is currently under offer for £2.5million.  The bedrooms are small and some will prefer to knock some of them together to create a good-sized master suite.

New development raises the profile of an area and the inevitable high sale prices tend to have an uplifting effect on surrounding property and Mayfair will be no exception.  However the dust, noise and upheaval involved in such a large site in a congested area will not be welcome news for the closest residents. 

It is unequivocally good news for neighbouring Vauxhall and Battersea which may get a spur from the Kennington branch of the Northern Line into the bargain, however since planning permission hasn’t been granted yet, completion is likely to be at least 5 years away.  This London Property Search Agent will keep a watchful eye on these developments so watch this space.

Technorati Tags: Battersea, Curzon Street, London property, London Property Search Agent, Mayfair, Nine Elms, redevelopment, reinvigorate, up and coming area, US Embassy, Vauxhall

Tags: Battersea, Curzon Street, London property, London Property Search Agent, Mayfair, Nine Elms, redevelopment, reinvigorate, up and coming area, US Embassy, Vauxhall