Completion of Earls Court Partnership Limited

RNS Number : 3877J

Capital & Counties Properties Plc

07 April 2015

 



7 April 2015

CAPITAL & COUNTIES PROPERTIES PLC ("Capco")

Completion of Earls Court Partnership Limited

Capco confirms that completion of Earls Court Partnership Limited, ("ECPL"), the investment vehicle established with Transport for London ("TfL") in respect of Earls Court 1 & 2 ("EC1 & EC2"), has occurred following the grant of leases and transfers of land into ECPL.

ECPL now owns new 999 year leases over EC1 & EC2. In addition, ECPL has acquired certain other adjacent property interests from Capco which are primarily located on and around Lillie Road and which as at 31 December 2014 were valued at £49 million.

ECPL is a UK limited company in which Capco owns 63 per cent and TfL owns 37 per cent of the shares respectively. Capco is leading the investment vehicle following its appointment as exclusive business and development manager.

Enquiries

Capital & Counties Properties PLC:

Sarah Hagan, Director of Communications                                                [phone]

Michelle McGrath, Director of Investor Relations                                        [phone]

Public Relations:

UK: Hudson Sandler, Michael Sandler, Wendy Baker                                 [phone]

SA: Instinctif Partners, Frederic Cornet                                                       [phone]

About Capital & Counties Properties PLC (Capco):

Capital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark London estates are valued at £3.0 billion (as at 31 December 2014): Covent Garden, which has assets valued at £1.6 billion including the historic Market Building; and Earls Court Properties including the Empress State Building together with the Venues business with aggregate property assets of £1.4 billion. The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.

www.capitalandcounties.com 

 

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