Kylie and Jason perform together

22 December 2012 Last updated at 05:45 ET

Kylie and JasonThe concert celebrated 25 years of Stock Aitken Waterman

Kylie Minogue has reunited with Jason Donovan on stage for the first time in 23 years at a concert in London.

The Australian singers performed their 1988 smash hit Especially For You to great applause at the 02 arena.

The pair shot to fame in Australian soap Neighbours as young lovers Scott and Charlene, with the single selling more than a million copies in the UK.

The Hit Factory Live - Christmas Cracker celebrated the 25th anniversary of the Stock Aitken Waterman.

Mike Stock, Matt Aitken and Pete Waterman are considered one of the most successful songwriting and production partnerships of all time, scoring more than 100 UK top 40 hits during the 1980s and 1990s.

Waterman masterminded Minogue and Donovan's early pop careers after the actors shot to fame in Australian soap opera Neighbours.

"How long have you waited for this for?" Minogue asked, before singing the closing notes.

Ahead of his duet with Minogue, Jason Donovan sang hits including Nothing Can Divide Us and When You Come Back To Me.

The stars were joined other 80s and 90s pop stars including Rick Astley, Bananarama and Steps for the concert.

Other acts included 2 Unlimited, Sonia, Princess and Pepsi & Shirlie, before all of the acts took to the stage to close the show with Slade's Merry Xmas Everybody.

A proportion of proceeds from ticket sales will be donated to Cancer Research UK.

The show had been due to take place in Hyde Park in the summer but was cancelled due to of bad weather.