CapCo’s London Development Wins Endorsement From Planners

Capital & Counties Properties Plc (CAPC), part owner of London’s Covent Garden Market, won planning support for a project to build offices and more than 900 homes in the U.K. capital.

Planners for the Royal Borough of Kensington & Chelsea recommended that the council approve a proposal by CapCo’s EC Properties unit to develop a 19-acre (7.7-hectare) site at Earls Court in West London, according to documents sent by the borough to council members. The council is scheduled to vote on the proposal, which includes demolishing the Earls Court Exhibition Centre, on Oct. 23.

The project would create more than 10,000 square meters (108,000 square feet) of office space, a hotel with as many as 100 bedrooms as well as shops, pubs and restaurants. It’s part of a larger 8 billion pound ($12.9 billion) development that won approval last month from the Hammersmith & Fulham council.

“Sir Terry Farrell’s master plan will deliver much-needed benefits to the local community and London, creating 7,500 new homes and 12,000 new jobs, and we look forward to a decision in the coming weeks,” Capital & Counties said today in an e-mailed statement.

The project now being recommended for approval may be built before work starts on the wider development, according to the documents sent to council members.

To contact the reporter on this story: Neil Callanan in London at ncallanan@bloomberg.net.

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.

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