Capco’s strategy is to drive long-term value creation through planning, land assembly, land enablement and selective development activities on its investments at Earls Court.
Capco’s investments at Earls Court principally comprise:
- 63 per cent interest in ECPL: the investment vehicle with TfL. Capco’s interests in ECPL were valued at £389.2 million at 30 June 2019. ECPL land has detailed planning consent for 3.4 million square feet (GEA).
- 50 per cent interest in the Lillie Square joint venture, with Capco’s 50 per cent interest valued at £173.0 million at 30 June 2019.
In addition, in 2013, Capco exercised its option under the Conditional Land Sale Agreement (“CLSA”), a binding agreement in relation to the West Kensington and Gibbs Green Estates (“The Estates”). To date, Capco has paid £90 million of the £105 million cash consideration payable to LBHF including four of the five annual instalments of £15 million.
Explore Earls Court
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.
Lillie Square is one of the residential developments in London, transforming what was previously a 7.5 acre car park on Seagrave Road into over 800 homes set around a new garden square.
The Royal Borough of Kensington & Chelsea (RBKC) and the London Borough of Hammersmith & Fulham (LBHF) have granted formal outline planning consent for the Earls Court Masterplan