Capital & Counties ambitions for a 1m sq ft transformation in Earl’s Court will be realised after it received approval from Hammersmith & Fulham council last night.
CapCo’s development company will replace the existing car park on Seagrave Road, with 808 homes in eight blocks ranging from four to 16 storeys. It will also create a gym and café.
In December, CapCo sold a 50% stake in its Seagrave Road assets in Earls Court to the Kwok family for £65.6m, valuing the overall assets at £131.2m.
The scheme had attracted some opposition, including from Chelsea Football Club, which is examining alternative locations to its Stamford Bridge home. The Premier League club wanted the decision delayed until a Supplementary Planning Document for the area was adopted to take into account its push for a new stadium with conference and exhibition spaces.
Ian Hawksworth, chief executive of Capco, said: “We are delighted by the council’s decision on Seagrave Road. It confirms our long term view of the value that can be unlocked from CapCo’s holdings in the area through a residential-led scheme. The site is an exciting opportunity to begin the transformation of the area, creating hundreds of new homes and jobs. We look forward to pursuing our plans for the project within the joint venture with the Kwok family interests.”
joanna.bourke@estatesgazette.com
