Forum Topic

West Kensington Residents Suffer Double Setback

"The Council will eventually receive approximately £105m, an estimated £54million of which, they say, would be available to be reinvested in the borough".This is full and sufficient payment for a profit to Capco's subsidiary, EC Properties LP, of £1 Billion (conservative estimate) over the next 25 years?? Er... I don't think so....

Una Hodgkins ● 4473d2 Comments

This is an estimate based on the construction of 7,500 flats (habitable units) on the Earls Court/West Ken/LUL land site. It is taken from comments on the redevelopment by Richard Osband, somewhere on the W14 site (http://w14london.ning.com/) or links from it. Mr Osband runs his own property development company and is leading one of the protest groups. This figure looks low to me: on average it works out at £133K on flats selling for upwards of £500K.

Una Hodgkins ● 4443d

Una, how do you derive a figure of £1 Billion for EC Properties profit?

Karen Hartnell ● 4443d