Capco looks for housebuilder or contractor for Earls Court redevelopment project

Earl's Court

The developer behind the 拢8bn redevelopment of Earls Court in west London, Capco, is considering establishing a joint venture with a contractor or housebuilder on the mammoth 77-acre project.

Richard Powell, director of planning and development at Capco, said the developer had spoken to contractors and housebuilders about a potential partnership, but refused to disclose the identities of the firms.

Powell said Capco is not looking for cash because it is able to source funds for the 鈥渆ntire project鈥�, but instead is looking for 鈥渒now-how鈥�.

He said: 鈥淲e鈥檙e not a housebuilder or a contractor, so we鈥檙e open to discussions on how to bring those skills on board.鈥�

Capco won outline planning consent for the 7,500-home neighbourhood from Hammersmith and Fulham council in September.

An outline planning decision from the second London borough covered by the scheme 鈥� Kensington and Chelsea 鈥� is expected later this month.

Capco plans to demolish the famous Earls Court Exhibition Centre to make way for the scheme, which will also include offices, leisure, hotel and retail space, a primary school, library, an integrated health centre and five-acre public park.

Powell said: 鈥淲e think the Earls Court Masterplan is one of the most exciting developments in London. Our focus is on delivering planning for the Masterplan in  the Royal Borough  of Kensington & Chelsea following the recent approval by the London Borough of Hammersmith & Fulham.

鈥淲e have always been clear that as we move forward into the delivery phase we will be looking for partners in a whole host of areas.鈥�

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