Earls Court Partnership Limited (“ECPL”), the investment vehicle with TfL, owns 999 year leases over the former Earls Court Exhibition Centres land together with certain adjacent properties primarily located on or around Lillie Road. Capco owns a 63 per cent share and is leading the venture in its role as business and development manager.
Capco’s interests in ECPL were valued at £460.7 million at 31 December 2018. ECPL land has detailed planning consent for 3.4 million square feet (GEA) and, following successful completion of the final phase of complex demolition of the former exhibition centres, the land is available for development.
The GLA’s draft London Plan references the Earls Court Masterplan as ‘ready to grow’ demonstrating the site’s potential to deliver more housing and optimise this important London opportunity. Earls Court has the ability to evolve with the needs of London and has the flexibility to be brought forward through the introduction of third-party capital and selective development. Capco will continue to seek to engage positively with the GLA, our partners at Transport for London and other stakeholders to evolve the Masterplan over time.