One year on: Has Battersea Power Station sparked London’s retail revival?

This Saturday (October 14) marks one year since the highly anticipated official opening of the Battersea Power Station redevelopment.

With a rich heritage and after years of planning permission hurdles, the site added another shopping destination to London’s offer. 

But has it lived up to expectations? How successful has the retail offer been? And is Battersea truly a destination of the future for retail in the capital?  

Happy shoppers

Battersea Power Station has welcomed more than 11 million visitors since opening its doors and has unveiled more than 35 new shops, eateries and leisure experiences during the year, bringing the total across its estate to more than 120. 

With Apple employees working from its UK headquarters in the power station several times a week, as well as the 1,600 homes sold across the estate to date, Battersea Power Station head of leasing Sam Cotton says it has succeeded in attracting both local shoppers and workers, as well as bringing in visitors from across London.

“Our core visitor is, of course, southwest London in particular because we are that neighbourhood location and we are very convenient,” he says.

“Our immediate local audience has remained very loyal and has visited in greater numbers, which has been brilliant to see.

“Since we opened the power station, that visitor base has definitely expanded and we see people from all across London on a regular basis.

“Over the summer, we really started to see the tourist visitors come through – American, European and definitely Middle Eastern. It was always the plan to have multiple audience-focused activities here and that is now really starting to play out.”

The power station has certainly not fallen short when it comes to hosting immersive experiences for those visiting. Pop-up events throughout the year have included an Aperol Spritz Aperidisco and a sound-and-light show led by luxury watch brand Jaeger-LeCoultre.

Having recently been confirmed as London’s only official fan zone for the 2024 Paris Olympics, Battersea Power Station is definitely putting on a show beyond retail and food, adding more incentives for people to continue to visit.

As it has more than doubled its footfall from the first six months to the one-year mark, the power station is certainly on the right path to achieving its goal of being a top 10 destination for people to visit in London.

A first-class offer

With Nike, Reiss, Watches of Switzerland and Zara all in attendance, some big retail players are now calling Battersea home.

Cotton says the power station is targeting a “mixed audience” and remains focused on offering customers a “blended price point”. He adds that, while the big players are seeing success, some of the smaller “discovery brands” are doing equally well.

Chief executive of JDM Retail Jonathan De Mello says that, while the offer is aspirational and fashion-orientated, Battersea is missing a trick when it comes to catering for more “everyday staple” shoppers. He says it needs a more diverse range of tenants to reach the next level.

“If they had more staple retailers and maybe a second phase of retail where they bring in something a bit more mass-market, I think that could be good to counterbalance the significant amount of fairly high-end retailers they’ve got,” he says. 

With Zara’s sister brand Massimo Dutti preparing to open on October 26, the power station evidently believes mid-market fashion has its place among the luxury counterparts in its portfolio.

Cotton says the biggest frustration during the first year of opening was not having the restaurant section ready in time for the first influx of shoppers.

“We’re very open about it; it was an enormous frustration for us because we knew what was coming,” he says. “Lots of visitors were coming in and they didn’t get to experience that [food and beverage offering], which was a great shame.”

Despite a slower start for its food offer, Battersea has since opened the Arcade food hall and a range of other restaurants. With further openings in the works, including South African restaurant Tashas’ first-ever UK restaurant next month, the only way is up on the eatery front.

Next stop: Battersea

Battersea Power Station Underground station, which has recorded 8 million taps in and out this year, was a vital element in putting the new shopping centre on the map.

Cotton adds that the power station’s aim was to “contribute very positively to London” and create a real “destination” for what has historically been an underserved part of the capital in terms of retail and leisure.

Me + Em became one of Battersea Power Station’s tenants this year, marking the womenswear brand’s first store south of the Thames.

Brand director Alexander Butt said: “Our store strategy has always centred around the neighbourhoods where our customers live, work and socialise. 

“The opportunity at Battersea Power Station was a natural extension of this and, as our seventh standalone store, it has opened up a large target market for us in an iconic building, not just for UK customers but also international visitors.”

While De Mello is in agreement that the power station has “transformed” the area around it, he says the important thing for the centre now is to maintain customer interest and visitor momentum.

“The aspiration initially when it was developed was to bring people in from far and wide to experience the site,” he says. “I think they achieved that in the first couple of months of opening when it was new, shiny and interesting.

“It is a very Instagrammable location in a sense as well, which is definitely something that people would go there for. But you don’t do that on a regular basis and retailers can’t rely on people coming just to see something, take a few photos and leave.

“Once you’ve been, you are not going to go back regularly unless the offer is enticing enough for you to do so. I think it relies on some of the other phases of the development.”

Despite Battersea Power Station still being a work in progress, with further phases of its office, retail and residential offer yet to be completed, after a highly anticipated opening it has certainly succeeded in attracting shoppers, both locally and from further afield.

As more retailers, restaurants and services join the portfolio, the power station’s offer continues to improve. As long as Battersea can continue to spark excitement among its visitors, this upward trajectory will likely continue.