Earls Court planning application draws close as firm explores joint venture

Capco, the firm planning to turn Earls Court into a residential and commercial area, is exploring a possible joint venture to finance the move and said that its is making 'good progress' in bringing the project to fruition.

Earls Court planning application draws close as firm explores joint venture
Earls Court planning application draws close as firm explores joint venture

A report in the Financial Times this week suggested that Capco was in talks with the Kwok family, which controls Hong Kong’s largest listed property developer Sun Hung Kai Properties, about a possible joint venture for the project, which will see the famous Earls Court exhibition centre torn down.

Capco subsequently released a statement which said it had not struck any deals yet, but was exploring various avenues.

"Capco regularly reviews its options on how it may participate in any future redevelopment of Earls Court if the planning process is successful," said the statement.

"One such option could be a joint venture, and the Company has received expressions of interest from a number of parties. However at this stage no discussions have progressed beyond the preliminary stages. There is therefore no certainty that any transaction would be forthcoming."

The firm also said the it has "made good progress to date in advancing the planning application process" and that it expects to unlock the land value of the Earls Court site.

The official planning application, supported by the local councils, is expected in the coming weeks.

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