Earls Court regeneration planning permission approved
Earls Court is set to undergo significant regeneration after the first phase of an £8 billion development was given the go-ahead.
Capital & Counties announced the initial stage of the 10.1 million
sq ft scheme had been approved following the signing of the Section 106 agreement. The plans were granted after a meeting with
Capco, the London Borough of Hammersmith and
LBHF), the Royal Borough of
Kensington and Chelsea (
RBKC), London Underground Limited and Transport for London.
The Earls Court
Masterplan will spread across the borders of both
LBHF and aims to create a new village settlement. This will include 7,500 new homes as well as a high street promoting affordable living in the capital. Sector 106 provides a range of community benefits such as improvements to transport links, the creation of new open green space as well as employment and skills training for the local community.
Residents and business owners will be able to view the proposed plans with the first phase being on display at Earls Court 1 and 2 exhibition halls. Further phases will also be able to be viewed which could include a number of new council estates and the London Underground Lillie Bridge Depot should it become operationally feasible to be run.
Gary Yardley, Investment Director of Capital & Counties Properties PLC, said: “The formal planning consent, the signing of the Section 106 agreement and the exercise of the Conditional Land Sale Agreement are positive steps forward and add further momentum to the Earls Court project.
“These milestones will allow us to work with the local authorities to take this exciting development forward and deliver the Earls Court Masterplan which will create 7,500 much needed new homes and 12,000 jobs.”
When completed the project will help to give the Earls Court region the facelift it has required for a number of years.
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Date: 18/11/2013 16:23:00
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