Khan weighs in on contentious Earls Court scheme

Sadiq Khan has called for more affordable housing under any new regeneration plans put forward by Capital & Counties (Capco) for its Earls Court regeneration plans. Khan said more affordable homes should be available as part of any new plans for the stalled redevelopment scheme. He also said two housing estates which are at risk of demolition under the current plans should be “handed back entirely” to the council. In a statement, Khan said: “Along with the overwhelming majority of the local community, I have long had serious concerns about the direction of the Earls Court scheme, and particularly its inclusion of the West Kensington and Gibbs Green estates. “A positive way forward would involve new plans that exclude the estates, and that offer more housing – particularly more social rented and other genuinely affordable homes. “The GLA would review any such plans at the point at which they were referred. “To ensure my concerns are addressed, my view is that ahead of alternative plans being progressed and determined, the estates should be handed back entirely to the London Borough of Hammersmith & Fulham.” The mayor has intervened as Capco, which has led the scheme since 2009, is in talks with Hong Kong’s CK Asset Holdings to sell its interest in the 77-acre site. Progress on the scheme has been slow amid a fall London residential property values, as well as local campaigns by residents against the scheme. In May, Capco signalled that it was considering splitting its portfolio in two and in its half-year results to the end of June it said “constructive early steps” had been taken on the route to a possible demerger. Earlier this year, Capco was hit by a further decline in the value of its west London scheme, dragging down the company’s entire portfolio value by £17.1m to £3.3bn, off the back of the ongoing decline in values of London residential property. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette