In message , at 21:35:25 on Thu, 1 Dec 2011,
Nick Leverton remarked:
Boris was reported to be looking for £2.5m from the Embassy project,
which is small change and neither here nor there in the grand scheme of
things.

On the other hand, the Battersea Power Station project is supposed to be
grossing £5.5bn, which is almost 20x the loan they are currently
floundering with.

A lot of business ideas suppose that they can gross a lot of money, and a
lot of them fail to meet their goals. Of more interest, if anyone knows,
would be what contribution the project was actually expected to make to
the Northern Line Battersea extension.

The power station developer was the "sponsor and manager" for the
extension.

http://www.northernlineextension.com...ess_report_no_
1_final.pdf

There are some interesting maps, eg p8. The price depends on the route
and I presume it's the £459m one. They seem to have gone for the highest
density development scenario on page 10, but it's possible (if this was
also the announcement of the choice of route) that the developer could
only have paid for the cheaper route option, more on cash-flow than
cost/benefit grounds.

ps A third of the debt that was called in this week is money still owed
to the previous site owners who sold to REO in 2006.

--
Roland Perry