The owner of Earls Court estate is demerging its business.
Reuters reports that Capital & Countries Properties (Capco), the owner of London’s Earl’s Court, is in talks to dispose the bulk of its interest in the estate to Li Ka-shing’s CK Asset Holdings.
“The Company has received a number of proposals in relation to Capco’s interests in Earls Court which it is considering,” Capco said in a statement. “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).”
Capco is splitting the business into two with one unit managing the London Covent Garden estate whilst the other will handle the planned billion-pound development of Earls Court area.
The redevelopment includes plans to construct 7,500 new homes, 1 million square foot of commercial space, and 7.5 acres of open space.
Here’s more from Reuters:
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