Capco sells Earls Court estate for $551m

Capital and Counties Properties has exchanged contracts for the sale of its interests in Earls Court in London to investors APG and Delancey for £435 million ($551 million).

The company said the sale, which excludes assets Lillie Square, West London, is on a cash-free and debt-free basis and was in “the best interests of the company and shareholders as a whole.” The sale is consistent with the company’s strategy of monetizing investments at Earls Court, as it seeks to grow its central London property investment business, centered around Covent Garden.