Pinsent Masons advises Capco on Earls Court joint venture with TfL

01 Apr 2014 | 02:51 pm | 1 min. read

International law firm Pinsent Masons has advised Capital & Counties Properties PLC (‘Capco’) on the formation of a new joint venture with Transport for London (‘TfL’) which will enable the development of Earls Court 1& 2 in line with the Earls Court Masterplan.

The joint venture has been formed with Capco owning 63% and TfL 37% of the shares respectively. A board of directors has been appointed by the joint venture comprising of four representatives from Capco and three from TfL, with Capco also appointed as the business and development manager to enable to the development of Earls Court 1 & 2 to be co-ordinated with the wider Masterplan.

The Masterplan will deliver 7,500 new homes and 10,000 new jobs. It will also see the development of a new primary school, a new leisure centre, new health facilities as well as community and cultural spaces. Thirty seven acres of green open space will be provided, including a new five acre park and there will also be significant improvements to the transport infrastructure including increased capacity at Earls Court, West Kensington and West Brompton underground stations.

TfL owns the freehold to the exhibition centres known as Earls Court 1 & 2 and Capco is the leaseholder of both sites. In addition to its leasehold interest, Capco owns certain other adjacent land interests, including the Northern Access Road, which will be contributed to the Joint Venture.

It is anticipated that the joint venture arrangements will complete in full once vacant possession is available, which will result in new 999 year leases over Earls Court 1 & 2 being granted to the Joint Venture. In addition, on completion the Joint Venture will acquire other smaller properties in the Earls Court area currently owned by Capco.

Arthur Lovitt, Head of the Real Estate Sector at Pinsent Masons, said: “The signing of the joint venture is a critical piece of the Earls Court jigsaw and represents a hug step forward in the delivery of this key phase of the Masterplan.

“Pinsent Masons has been advising Capco since the very early stages of this regeneration scheme and it is a project that our team is immensely proud to be involved with. We supported Capco throughout the planning process and its negotiations with the London Borough of Hammersmith and Fulham regarding the conditional land sale agreement.The scheme holds huge potential and it is fantastic to see the project expedited by the signing of this joint venture agreement.”

Gary Yardley, investment director of Capco, commented: “We are delighted to finalise this agreement and look forward to working with TfL. The re-imagination of Earls Court is moving forward and presents a unique opportunity to establish a new address in central London. Together with our partners, we will bring 7,500 new homes, 10,000 new jobs to the area, and benefits not just for the local economy, but for London as a whole.

Latest press releases

Show me all press releases

Pinsent Masons advises NTR plc on 54MW portfolio of co-located solar and battery storage projects in Ireland

Multinational law firm Pinsent Masons has advised NTR PLC on the acquisition of a 54MW portfolio of co-located solar and battery storage projects in County Wexford, Ireland, from renewable energy developer RES.

Pinsent Masons advises on Four Seasons Care Homes portfolio migration

Multinational law firm Pinsent Masons has advised propco investor LDC Care Homes and its asset and investment manager Elevation Advisors on the migration of a care homes portfolio from Four Seasons Health Care Group (FSHC) to new operators.

Pinsent Masons advises Teva Pharmaceuticals on €84m sale of its consumer healthcare brand portfolio to Karo Pharma AB.

Multinational law firm Pinsent Masons has advised Teva Pharmaceuticals’ subsidiary, Actavis Group PTC, on the successful €84m sale of a suite of consumer healthcare products to Karo Pharma AB (Karo).

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises on Four Seasons Care Homes portfolio migration

Multinational law firm Pinsent Masons has advised propco investor LDC Care Homes and its asset and investment manager Elevation Advisors on the migration of a care homes portfolio from Four Seasons Health Care Group (FSHC) to new operators.

Pinsent Masons appointed to UK Government Trade Law Panel

Multinational law firm Pinsent Masons has been appointed to the UK Government's new Trade Law Panel in an international consortium with BakerHostetler in the USA, and Fasken in Canada, to advise on international trade law disputes.

Pinsent Masons advises on £100mn 'Women in Safe Homes' investment property fund

Multinational law firm Pinsent Masons has advised on what is believed to be the world's first gender-lens investment property fund, to support women experiencing, or at risk of homelessness.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts