Real Estate Opportunities, the owner of Battersea Power Station, has announced it will appoint a masterplanner to redesign plans for London’s most controversial development site

The board has invited architects and masterplanners to submit preliminary proposals detailing ways in which the existing designs can be changed and improved.

Rob Davies, development director for Treasury Holdings, REO’s development manager, said: ‘REO has concluded that the current masterplan for the site does not fully respond to today’s market conditions, nor optimise the potential of the site. We recognize that there is a widespread desire and interest to see progress happen on this site as soon as possible. We fully support and endorse that viewpoint and we are moving forward rapidly.’

The company said it wanted to get a clear picture of all of the key stakeholders’ views on the future of this site before deciding plans. It will be discussing options with Wandsworth Borough Council, local interest groups and the relevant political and administrative bodies to understand their positions.