Appointment of Masterplanner

RNS Number : 5381M

Capital & Counties Properties Plc

26 May 2010

 



26 May 2010

CAPITAL & COUNTIES PROPERTIES PLC

APPOINTMENT OF MASTERPLANNER FOR THE EARLS COURT DEVELOPMENT

PLANS TO BE DEVELOPED IN CONSULTATION WITH THE COMMUNITY

Capital & Counties Properties PLC, working with Transport for London ("TfL") and the London Borough of Hammersmith & Fulham, today announces that they have appointed Terry Farrell & Partners ("Farrells"), the internationally renowned architects and urban designers, to work with them to draw up a masterplan for the Earls Court site. The appointment was made after an international masterplanner competition.

Capital & Counties Properties PLC, TfL and the London Borough of Hammersmith & Fulham will work with Farrells over the coming months to develop a detailed masterplan for the site which will include in-depth community and stakeholder consultation to ensure the views of local residents are reflected. During the masterplan development process, the London Borough of Hammersmith & Fulham will determine whether they wish to include the West Kensington and Gibbs Green housing estates in the development area.

Ian Hawksworth, Chief Executive at Capital & Counties Properties PLC, commented:

"Our vision is to develop an inspiring urban environment at Earls Court.  We selected Farrells as we believe that they will bring this vision to life.  Not only are we delighted to be working with such a highly regarded and renowned architect and planner, but the selection of the masterplanner represents a significant step forward for the Earls Court development as a whole."

Anthony Bickmore, TfL Head of Corporate Finance Property Development, said:

"The appointment of Farrells is the next stage in the ongoing investigation into the potential of this major West London site which has been identified as an Opportunity Area within the Mayor's London Plan."

"TfL is constantly seeking better ways of using its land and has significant property interests in the Earls Court area. This regeneration project represents an opportunity for TfL to work with the other two major property owners to investigate the creation of a new residential and business district given its excellent existing public transport links including one Overground and three Tube stations along with excellent bus and road connections."

Leader of Hammersmith & Fulham, Cllr Stephen Greenhalgh, added:

"We welcome the appointment of a masterplanner and will continue to work closely with residents in securing plans that are both appropriate for the area and deliver real economic and housing opportunities for local people."

Sir Terry Farrell has commented:

"I am absolutely thrilled to be appointed as masterplanner for Earls Court. This represents an extraordinary opportunity to produce a world class development in a strategically important part of West London. Working with the landowner, stakeholders and the local community, I will draw upon my knowledge gained from 40 years of delivering major mixed-use masterplans in London. With my highly experienced team at Farrells, we will aim to turn the aspirations of all involved into a vision for 'London Plus' - a 21st Century London that enhances the most enduring qualities of this great city."

The parties will work over the coming months to develop a masterplan for Earls Court with a view to producing an initial plan for community consultation in the Autumn. A planning application will be submitted in approximately 12 months, and the redevelopment work will not commence on site before the Olympic Games in 2012 when Earls Court Exhibition Centre will host the volleyball tournament.

ENDS

For corporate and investor enquiries please contact:

Wendy Baker, Hudson Sandler (UK)

T: [phone] 

Nicholas Williams, College Hill (South Africa)

T: [phone]

For other Earls Court enquiries please contact:

Chris Rumfitt, Edelman

T: + 44 (0)20 3047 2153

Notes to Editors

About Capital & Counties Properties PLC

CAPITAL & COUNTIES PROPERTIES PLC is one of the largest companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. CAPITAL & COUNTIES PROPERTIES PLC holds 3.5 million square feet of assets valued at £1.2 billion (as at 31 December 2009) in three landmark London estates: Covent Garden London, which has assets valued at £548 million, including the historic Market Building; Earls Court & Olympia Group and 50% of the Empress State building in Earls Court amounting to aggregate propertyassets of £434 million; and the Great Capital Partnership, a joint venture with Great Portland Estates, which holds a further £247 million of assets in London's West End. The company demerged from LIBERTY INTERNATIONAL PLC (now Capital Shopping Centres Group PLC) in May 2010, and is listed on the London Stock Exchange and the JSE, Johannesburg.

About Farrells

Sir Terry Farrell is an architect and urban designer with a global reputation. He is considered to be Britain's most successful planner with offices in London, Edinburgh and Hong Kong. In practice for over 40 years, he has completed iconic, award-winning buildings and masterplans in cities including London, Edinburgh, Manchester, Hong Kong, Shenzen, Shanghai, Singapore, and Seoul.

Internationally, the practice is building major new transport interchanges in Hong Kong, China, India and South Africa. The work of the practice is extensively published in books and journals worldwide.

Sir Terry Farrell is the government's design champion for the Thames Gateway, the largest regeneration project in Europe and author of '21st Century Kent' which involves a strategic transport study for the county. In November 2009 he was appointed to the Mayor of London's Design Advisory Panel. He is the Mayor's planning lead for the Outer London Commission and was recently appointed to a steering group to advise the Mayor on future airport strategy.

His interpretative view of London, based upon decades of experience as an urban planner, is reflected in his new book; "Shaping London - The Patterns and Forms that Make the Metropolis".

 

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