Mayor approves Capco's £8bn Earls Court regeneration scheme

The scheme, which is based on a masterplan by Sir Terry Farrell, will also include new shops, offices, leisure facilities, public open space, a new school, new transport links, healthcare centre and community centre. It is expected to generate 36,000 jobs during its construction phase and more than 9,000 permanent jobs when completed.

The 32 hectare development site comprises land in both the London Borough of Hammersmith and Fulham and the Royal Borough of Kensington and Chelsea. Both councils resolved to grant outline permission to the plans last year.

The scheme will be subject to a Section 106 Agreement which includes £490 million worth of community and infrastructure contributions, including improvements to Earls Court, West Kensington and West Brompton tube stations.

“I’m in no doubt that the development proposed for Earls Court and West Kensington will provide a massive boost not just to this part of the capital, but to London’s wider economy as well," said Johnson in a statement.

"It is a landmark project that will deliver much needed jobs, new homes and improved infrastructure and will make this strategically important part of the capital an even better to place to live, work and visit."

“The redevelopment of Earls Court is a once-in-a-lifetime chance for the local residents to benefit from a multi-billion pound investment in their own neighbourhood," said Hammersmith and Fulham Council Leader Nicholas Botterill.

"Earls Court has the potential to be as important for West London as the Olympics were for east London. This scheme will usher in a new generation of prosperity and opportunity for tens of thousands of west Londoners,” he said.

Capco investment director Gary Yardley welcomed the news of the Mayor's approval and said that the project would bring "major investment, jobs and high quality homes" to west London.

"With Hammersmith and Fulham Council we have agreed a generous package of community benefits that will support a vibrant, thriving, strong community creating a great place to live, work and visit. We are very pleased that the Mayor has put his seal of approval on this," he added.

The plans will now be subject to referral to the Secretary of State for Communities and Local Government who will consider whether to call in the planning application.