The most valuable Masterplan in London
Capco’s Masterplan for Earls Court has laid the groundwork for one of the most important and exciting regeneration projects in the capital. Its location adjacent to some of city’s most desirable residential districts – Kensington, Chelsea and Fulham - plus excellent existing transport links offer a rare chance to redefine prime central London.
The Earls Court Masterplan is based on the creation of ‘Four Urban Villages and a High Street’, a concept devised by internationally renowned architect Sir Terry Farrell. Each village will have a distinct identity, reflecting the character of neighbouring communities and ‘knitting into’ the urban fabric.
The 37 acres of open space will include the Lost River Park which will weave through the heart of the scheme along an ancient tributary of the Thames, Counter’s Creek. Designed by RHS Chelsea Flower Show Gold Medallist, Andy Sturgeon, the park will stretch five acres across the full 77 acres of the Earls Court development site. Elegant restaurants and cafes will cater to residents and visitors and play spaces for children of all ages will be incorporated into the landscaping.
Detailed designs will incorporate the latest sustainable technology and the Masterplan’s 7,500 new homes will range from elegant mansion blocks to smart family homes, loft-style apartments and affordable housing.
The scheme will also provide 10,000 new jobs and state-of-the-art health, education, cultural and community facilities.
The Royal Borough of Kensington & Chelsea (RBKC) and the London Borough of Hammersmith & Fulham (LBHF) have now granted formal outline planning consent for the Earls Court Masterplan.
LBHF has also granted detailed planning consent for Lillie Square, a residential scheme on the site of a car park on Seagrave Road.
Detailed planning applications will soon be submitted for Earls Court and West Brompton Village, and a proposal to change the use of the Empress State Building from office to residential.
Further detailed planning applications for the other villages will be submitted in due course.
Capco has exercised its option in relation to the CLSA. This will enable LBHF and Capco to agree a phasing strategy in relation to achieving vacant possession of the land and subsequent draw down.
Discussions continue with Transport for London following the announcement in July of the agreement to pursue proposals to settle heads of terms for a joint venture to enable the development of Earls Court 1 & 2 in line with the Earls Court Masterplan.
The Section 106 agreement, which was signed in November 2013, includes a series of community benefits which will transform the area. These include:
• 1,500 affordable homes
• Improvements to streets and public realm and the creation of 37 acres of green space including garden squares and communal gardens
• Improvements to local Tube stations and bus services plus investment in cycle hire hubs, parking spaces and lanes
• New local amenities including a new primary school, community centre, leisure centre, health centre, cultural space and money towards a cultural fund fo the area
• Up to 10,000 permanent jobs and £8 million worth of employment and skills training