(AP) — Apple will be setting up its London headquarters in the boiler room of the Battersea Power Station, a London landmark that has been long defined the skyline on the south bank of the River Thames.

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The building with four towering chimneys is part of a multibillion pound restoration effort for the area. Apple and its 1,400 employees will become the largest office tenant on the development site that will include homes, businesses and leisure facilities.

“It is a further sign that London is open to the biggest brands in the world and the leading city for trade and investment,” London Mayor Sadiq Khan said.

Apple’s decision is seen as a boost to the development projects in an area where demand has been slowing because of a luxury property glut.

The station, which is the backdrop for the flying pig on Pink Floyd’s “Animals” album cover, has not produced power for decades.

Apple’s European headquarters are set to remain in Ireland.