Capco positive on Earls Court

Capco has published a trading update painting a positive picture of their Earls Court activity.

The update, for the period 1 January 2016 to 6 May 2016, stresses that they are “driving value creation through planning, land assembly, land enablement and selective development”.

Capco say demolition of the former Earls Court Exhibition Centres to ground level is on track for completion in the second half of 2016, while construction of Phase 1 at Lillie Square continues on plan with the first completions expected in the second half of 2016.

They say that phase 2 sales at Lillie Square continue, with 9 units reserved or exchanged since they last gave an update on 24 February 2016. Of the first release of 70 units for sale in Phase 2, 37 have been reserved or exchanged in total at values approximately 5 per cent higher than comparable units in Phase 1.

Over £300 million of sales to date have been achieved across the Lillie Square scheme.

Meanwhile, they say Olympia London has had an excellent start to 2016 with over 40 events held, including established shows such as the Ideal Home Show and The London Book Fair.

Ian Hawksworth, Chief Executive of Capco, commented: “Demolition to ground level at Earls Court continues on plan with completion on track for the end of this year. Construction of Lillie Square is progressing well and the first homes will complete later in the year as we welcome our first residents. Sales of Phase 2 of Lillie Square have continued with a notable increase in enquiries since the start of the year.”

 

 

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