• DEMOLITION OF THE FORMER EXHIBITION CENTRES COMPLETES
  • ENABLING WORKS BEGIN TO PREPARE FOR NEW HOMES
  • LONDON'S LARGEST CRANE ARRIVING ON SITE
  • FIRST NEW RESIDENTS MOVE INTO THEIR NEW HOMES
  • LONDON PLAN SUBMISSION SIGNALS POTENTIAL FOR FURTHER GROWTH

Capital & Counties Properties PLC ('Capco') has announced it has reached a significant set of milestones in the development of Earls Court with the completion of demolition, start of enabling works and the first new residents moving into their new homes at Lillie Square.

The progress on site comes as Capco signals a new ambition for the 77-acre development at Earls Court to deliver more homes and create more jobs as part of representations to the Mayor's London Plan consultation. The representations submitted signal how the site could accommodate up to 10,000 homes, additional affordable housing levels and a greater diversity of housing types.

The publication of new ambitions for the Earls Court project comes as Capco marks major progress at the site itself, including:

  • The demolition of the former exhibition centres to ground level is now complete, after nearly two years of intensive work on the site.
  • Site preparation moves into a new phase with the arrival of the 'Heavy Lifting Crane', the largest crane ever used in London.
  • The first residents move into their new homes with the completion of the first properties in Lillie Square, part of the Earls Court Masterplan.

The former Earls Court Exhibition Centre site is being brought forward by Earls Court Partnership Limited, the joint venture owned 63% by Capco and 37% by Transport for London (TfL). Demolition began in 2014 at Earls Court and since that time the two former exhibition centres have been carefully demolished. 99% of waste from the demolition site has been reused or recycled. The site now moves to enabling works that will prepare for the construction of new homes and London's first new park in decades.

The Heavy Lifting Crane - London's largest crane - is now arriving at Earls Court to carefully lift the portal beams out from over the London Underground lines that run under the former exhibition centre site. This method has been designed to minimise the impact on local residents, to help reduce the carbon footprint of the project and will significantly shorten the project timescales. The crane is 110m high, the same size as the Empress State Building, the tallest building in West London, the length of a football pitch and is more than twice the height of Nelson's Column.

The first new residents are now moving into their new homes at Lillie Square, the first chapter of the Earls Court Masterplan. The development of 808 homes - including 200 affordable homes that are under construction - has been designed around new garden squares designed by Andy Sturgeon, the winner of this year's Chelsea Flower Show.

Speaking about the progress on the site, Gary Yardley, Chief Investment Officer, Capco said:

'Earls Court is the most important regeneration site in London and the last two years have seen significant investment and remarkable progress. The demolition of the exhibition centres is complete and our first residents of Lillie Square can now call Earls Court home. We would like to thank local people for their ongoing support during the works as we bring forward our plans to deliver new homes, jobs and a thriving part of London.

'We now move into a new chapter at Earls Court as the Heavy Lifting Crane is installed to allow the all-important site preparation work to take place. The progress and momentum continues and we look forward to working with our partners Transport for London and other stakeholders to discuss how the Masterplan can grow and evolve in line with London's needs.'

ENDS

Enquiries

Sarah Hagan Group Director of Communications & Marketing +44 (0)20 3214 9185

Editor's Notes

About Capital & Counties Properties PLC (Capco):

Capital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark London estates are valued at £3.6 billion (as at 30 June 2016): Covent Garden, which has assets valued at £2.1 billion including the historic Market Building; and Earls Court Properties including the Empress State Building together with the Venues business with aggregate property assets of £1.2 billion. The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.

1. Group share

www.capitalandcounties.com

About Earls Court:

The Earls Court Masterplan was consented in 2013 and covers 77 acres of land in West London. The Masterplan will create 10.1 million square feet of space and was designed by Sir Terry Farrell who was inspired by the best of London to create 'Four new Urban Villages and a 21st Century High Street'. The Masterplan will deliver 7,500 new homes, 10,000 new jobs, a new high street as well as new open green space, health facilities, new schools, community and cultural space and improvements to the transport and infrastructure of the local area. Part of the Earls Court Masterplan is being delivered by Earls Court Partnership Limited (ECPL), an innovative joint venture with Transport for London. ECPL is owned 63% by Capco and 37% by TfL.

Capital & Counties Properties plc published this content on 22 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 December 2016 17:18:08 UTC.

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