Reports are circulating suggesting the new Labour council in Hammersmith & Fulham will seek to renegotiate the contracts signed with Capco by the previous administration.
The FT Reports Guy Vincent, formerly at Bircham Dyson Bell, and a newly-elected Labour councillor, has been asked to review the contracts signed by the Conservatives.
Exactly what room for manoeuvre there would be is not clear. Capco and have an outline permission for their masterplan – which was subsequently rubber stamped by the Mayor of London – and a conditional land sale agreement covering the Gibbs Green and West Kensington estates was signed by the council, and subsequently got the seal of approval from Communities Secretary Eric Pickles.
A Capco spokesperson said: “The development of Earls Court is a fantastic opportunity to bring 7,500 new homes, 10,000 jobs and £450 million in community benefits to this important part of London. The scheme is well advanced, has broad support and planning approvals and agreements are in place with both local Councils and the Mayor of London. We have listened to local residents on the estates and every one of them is guaranteed a new home in the local area. We look forward to working with the new administration in the period ahead.”