Earlier this year, Capital & Counties said it was considering demerging its business splitting its assets in Covent Garden and Earls Court in to two separate companies.
This was thought to be a way to generate more capital value, as little seemed to be attributed to the Earls Court estate in the company’s market valuation.
Now it is reported that Capital & Counties is in discussions to sell part of its Earls Court estate to Hong Kong-based CK Asset Holdings
Capco said in a statement that it “continues to advance preparations for a possible demerger”, while adding: “The company has received a number of proposals in relation to Capco’s interests in Earls Court which it is considering. This includes discussions with CK Asset Holdings Limited regarding a conditional proposal for the sale of substantially all of Capco’s interests in Earls Court Properties (excluding the Lillie Square joint venture).”
They are keen to point out that nothing has been agreed, and that a sale is by no means certain.