News article from ExhibitionNews.co.uk

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HAMMERSMITH AND FULHAM COUNCIL SUPPORTS LAND SALE FOR EARLS COURT REGENERATION
posted on: 2/5/2012 08:23:46

Councillors for the London Borough of Hammersmith and Fulham (LBHF) have agreed to proceed with the sale of residential land for Earls Court’s regeneration despite significant local resident objections.
 
The local council has agreed a Conditional Land Sale Agreement (CLSA) with property developers Capital and Counties (CapCo) for the redevelopment of Earls Court, including the West Kensington and Gibbs Green residential estates, will go to a future cabinet meeting if no major issues emerge in outstanding negotiations.
 
If the CLSA is agreed, all 760 homes on the two housing estates will be rebuilt in the Earls Court redevelopment area. Tenants, leaseholders and freeholders will be compensated and only have to move once new replacement homes are ready.
 
The decision was reached following a council meeting on 23 April, which focused on a new cabinet report on plans to redevelop the Earls Court area, as well as resident concerns over CapCo’s masterplan.
 
According to LBHF councillors, the majority of concerns raised by residents on the two estates could be resolved. The cabinet report found 36.8 per cent (215) of total residents objected to CapCo’s masterplan for Earls Court, while only 17.5 per cent (102) backed it. Nearly 43 per cent of affected residents in the wider area did not return feedback forms.
 
LBHF will receive £105m from the CLSA deal and has earmarked £64m of that for reinvestment into the borough.
 
“Our part of west London is a vital engine of the London economy and the London economy drives UK growth. Growth is the engine of economic opportunity and this country needs economic growth,” Hammersmith and Fulham Council leader Cllr Stephen Greenhalgh stated.
 
“We have long said that we are interested in seeing if our residents could benefit from this strategic redevelopment opportunity. The Earls Court land will be redeveloped.”
 
LBHF has already approved the first part of CapCo’s two-step masterplan to build 808 homes on the Seagrave Road site, 200 of which will would be used in a first phasing plan to relocate residents.
 
In total, Sir Terry Farrell’s masterplan proposes four new villages across the 77-acre Earls Court Opportunity Area including 7,500 homes, commercial space, a park, playgrounds and other facilities for children.
 
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