Newsteer advised the Royal Borough of Greenwich on the value and disposal strategy for the Grade II listed former Plumstead Power Station, supporting plans to bring the building back into productive use.
The client’s challenge
The Council needed robust valuation evidence for a complex heritage asset, including its existing use and alternative refurbishment potential, while satisfying best-consideration requirements.
Our solution
Newsteer prepared Red Book valuation advice on the freehold and proposed leasehold interests, tested alternative refurbishment value and advised on Section 123 Best Consideration.
Beyond advice: how we added value
The team linked statutory valuation requirements with the wider regeneration objective, helping the Council test a route that could unlock external funding and a viable future use.
Outcomes and impact
The valuation evidence supported plans to transform the former power station into film studios, with the project intended to create jobs and contribute to local regeneration.
