February 24, 2011, 1:37am
DEVELOPER Capital & Counties said yesterday it is mulling a joint venture for its proposed multi-billion pound redevelopment of Earls Court in London, and has received interest from a number of parties.
The developer said in a statement that a joint venture (JV) for the 8,000-home development, one of the largest new residential projects in central London, was one of the options being considered. None of the JV talks had progressed beyond the early stage.
Capital & Counties was responding to reports it was in talks with the Hong Kong-based Kwok family, which controls Sun Hung Kai Properties, to provide funding for the site.
The company also said it was making good progress in the planning application process for the Earls Court project.
Sun Hung Kai Properties declined to comment. Capital and Counties shares rose three per cent to 148.8p on the news of a potential partnership.