Capco granted next stage of approval for Earls Court project

4th Apr 2014 07:45

Capital & Counties Properties (Capco) on Friday released a statement welcoming the approval of its reserved matters applications, which included the detailed design proposals for Earls Court Village.The decisions were made by the planning committees of the Royal Borough of Kensington and Chelsea (RBKC) and London Borough of Hammersmith and Fulham (LBHF) and followed receipt of outline planning permission for the 10.1m square feet Earls Court Masterplan from both boroughs in November 2013.The proposals cover an area of 16 acres and provide for 2.4m square feet of residential-led, mixed-use space that will include more than 1,200 new homes, 3.35 acres of publicly accessible park and the first phase of the new High Street.Additionally, a separate detailed planning application for a change of use for the Empress State Building from commercial to residential was also agreed to by the LBHF on April 3rd. The building will consequently be integrated into the Earls Court masterplan, adding 580,000 square feet of residential floor space to the overall area. The new scheme proposes the creation of 340 new homes as well as improvements to the façade of the existing building, the group explained. Gary Yardley, the Investment Director at Capco, said: "We are delighted that our detailed proposals for Earls Court Village and the Empress State Building have been approved by RBKC and LBHF. The project has real momentum and this decision signals another major milestone in delivering the vision for Earls Court. "As well as creating a vibrant new part of London, the plans will act as an enormous boost to the economy, creating thousands of new homes and jobs and signalling an £8bn investment in the local area."NR