Linklaters has advised Capco in respect of the formation of a joint venture to develop a 7.5 acre site at Seagrave Road, Earls Court, for a residential scheme. The proposed scheme, which covers approximately one million square feet and will replace the existing car park, provides for the delivery of a high quality, mixed tenure residential neighbourhood comprising 808 new homes and a range of amenities.
Linklaters’ team, led by real estate partner Anne Byrne, assisted by real estate managing associates Luke Mines, Jane Summerfield and tax partner Martin Lynchehan, advised on a conditional agreement with entities owned by the Kwok family to form a 50:50 joint venture. The Kwok family are major shareholders of Sun Hung Kai Properties Limited, one of the largest and highly reputable real estate companies listed on the Hong Kong Stock Exchange.
The Seagrave Road site is valued at around £130m, with the total development costs estimated to be in the region of £300m, and it is anticipated that construction will take five years. The site is set within the wider Earls Court & West Kensington Opportunity Area.
Anne Byrne said:
“This joint venture brings together two major players in the industry and enables the next stage of the Seagrave Road redevelopment to proceed. We are delighted to be involved in such an exciting project.”
ENDS
For further information, please contact Katie Taylor on +44 20 7456 2287 or Rupert Winlaw on +44 20 7456 3219.
