Capco and TfL complete Earls Court development partnership

7th Apr 2015 07:34

Capital and Counties Properties, otherwise known as Capco, has announced the completion of the Earls Court Partnership Limited (ECPL).The ECPL was an investment vehicle established with Transport for London (TfL) in March 2014, forming part of the so-called Earls Court Masterplan to create 7,500 new homes, a new primary school, leisure centre and health facilities.ECPL is joint-owned by Capco and TfL, holding 63% and 37% stakes respectively.The partnership now owns new 999-year leases over Earls Court 1 and 2 and has acquired certain other adjacent property interests from Capco which are primarily located on and around Lillie Road and which at 31 December 2014 were valued at £49m.