CK Asset seeks to buy west London project from Capco

Hong Kong–based CK Asset Holdings is in talks with a partner in a joint venture that owns Earls Court, a 3.4 million-square-foot estate in west London. CK Asset is seeking to purchase a majority stake in the district, which has been valued at £700 million ($914.48 million).

Capital & Counties Properties (Capco) confirmed in a statement that it has received, and is considering, proposals with regard to its interest in the property, including “discussions with CK Asset Holdings Limited regarding a conditional proposal for the sale of substantially all of Capco’s interests in Earls Court properties [excluding the Lillie Square joint venture].”

Earls Court is a 77-acre (31-hectare) site, split into a series of parcels, that has permission to build 7,500 homes. Ownership of the site involves titles to a number of separate parcels, according to Bloomberg, some of which Capco owns jointly with other investors.

Capco owns a 63 percent stake in the former site of the Earls Court Exhibition Centres, along with adjoining properties, through a joint venture with public transit unit Transport for London.