Following the Workers article in April exposing the speculation and parasitic capitalism associated with the old Battersea power station site in London, there are reports of yet further “new” development.
The original £1.5 million purchase of the site in 1983 has blossomed into a £500 million price tag in 2012 – a price escalator of around £16.5 million a year during the past 30 years of standing derelict – and at least 10 interested buyers.
Wading in with a £1 billion redevelopment proposal is Chelsea Football Club, toy of the Russian multi-millionaire Roman Abramovich, the 68th richest man in the world. ■