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Capital & Counties Plans $13 Billion West London Development

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June 22 (Bloomberg) -- Capital & Counties Properties Plc, the company formed in last year’s breakup of Liberty International, submitted a proposal for an 8-billion pound ($13-billion) development in London.

EC Properties Ltd., a wholly-owned subsidiary of CapCo, plans to develop the Earls Court and West Kensington Opportunity Area, which includes the Earls Court Exhibition Centres and the West Kensington and Gibbs Green housing estates, the London-based company said in a statement today.

“It will deliver thousands of much-needed new homes and jobs, and create a remarkable new place,” said Gary Yardley, director of EC Properties. “Our planning application follows two years of consultation and we are proud to submit a master plan which has been shaped by the community.”

The project would create 12,000 jobs and more than 7,500 homes as well as office, leisure, hotel and retail space. The planning application will be assessed by London borough of Hammersmith & Fulham and the Royal Borough of Kensington & Chelsea, according to the statement.

To contact the reporter on this story: Christopher Spillane in London at cspillane3@bloomberg.net

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