The slowdown in the London market for luxury, newly built homes has forced Capital & Counties to take a £100m hit on the value of its Earls Court redevelopment.
The property company’s interest in the 70-acre west London regeneration project fell by 15.6% to £658 million last year, it said yesterday.
The scheme, which involved demolishing the renowned Earls Court Exhibition Centre, which was opened in 1937, was valued at £1.4bn at the end of 2015. However, its worth has been falling since.
