The Nine Elms Moment

Wandsworth was once a kind of industrial brownfield site right along the Thames. The Conservatives were really, really keen on something happening here. They kind of pinned their legacy on it. Edward Lister had a big vision around the Power Station. There was a planning application put in through Treasury Holdings which was an Irish property company. It ended up collapsing anyway and a Malaysian state pension fund took over the power station. So you've got this pre-crash planning application land value, but post-crash land value. But there was empty space in London. And Nine Elms was that empty space.