Sharenet Sites 
Sharenet Sites
CCO - Capital & Counties Properties PLC - Positive planning decision obtained for redevelopment of Seagrave road car park Capital & Counties Properties PLC (Incorporated and registered in the United Kingdom and Wales with registration Number 07145041 and registered in South Africa as an external company with Registration Number 2010/003387/10) JSE code: CCO ISIN: GB00B62G9D36 17 February 2012 PRESS RELEASE POSITIVE PLANNING DECISION OBTAINED FOR REDEVELOPMENT OF SEAGRAVE ROAD CAR PARK Plans to redevelop the Seagrave Road car park site in Earls Court into an exciting new residential quarter containing more than 800 new homes have been endorsed by Hammersmith & Fulham Council (LBHF). Capital & Counties Properties PLC (Capco) welcomes the decision by the Council`s planning committee to resolve to grant detailed planning permission for the proposals, which will replace the existing car park with a high quality, mixed use scheme comprising 808 new homes, ranging from townhouses to apartments around a new public garden square. The project includes 200 affordable homes that will be made available for the relocation of some residents of the Gibbs Green and West Kensington Estates in the event that regeneration of these estates occurs. As announced in December, Capco has a conditional agreement with entities in which certain members of the Kwok family are interested (the "Kwok Family Interests") to form a 50:50 joint venture in respect of Capco`s interests in and around Seagrave Road. Completion of the JV is expected upon expiry of the three month statutory period which follows finalisation of the section 106 Agreement and sign off from the Mayor of London. Ian Hawksworth, Chief Executive of Capco said: "We are delighted by the Council`s decision on Seagrave Road. It confirms our long term view of the value which can be unlocked from Capco`s holdings in the area through a residential-led scheme. The site is an exciting opportunity to begin the transformation of the area, creating hundreds of new homes and jobs. We look forward pursuing our plans for the project within the joint venture with the Kwok Family Interests." -ENDS- Capital & Counties Properties PLC Ian Hawksworth, Chief Executive Tel: + 44 (0) 20 3214 9188 Gary Yardley, Investment Director Soumen Das, Finance Director For financial media enquires please contact: Hudson Sandler (UK) Tel: +44 (0) 20 7796 4133 Michael Sandler/Wendy Baker College Hill (South Africa) Tel: +27 11 447 3030 Nicholas Williams For general media enquiries please contact: Chris Rumfitt, Edelman Tel: +44 (0) 7967 226646 Sponsor: Merrill Lynch SA (Pty) Limited About Capital & Counties Properties PLC (Capco): Capco is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. CAPCO holds 3.2 million square feet of assets valued at GBP1.5 billion (as at 30 June 2011) in three landmark London estates: Covent Garden, which has assets valued at GBP780 million, including the historic Market Building; Earls Court & Olympia Group and 50% of the Empress State building in Earls Court amounting to aggregate property assets of GBP488 million; and the Great Capital Partnership, a joint venture with Great Portland Estates, which holds prime West End properties of which Capco`s share is GBP240 million. The company is listed on the London Stock Exchange and the JSE, Johannesburg. About The Kwok Family Interests: Interests of the Kwok family are major shareholders of Sun Hung Kai Properties Limited ("SHKP"), one of the largest real estate companies listed on the Hong Kong Stock Exchange. SHKP is widely recognised as a premium brand developer of residential projects, offices, shopping centres and hotels. Among its renowned developments are the International Finance Centre in Central, Hong Kong, the International Commerce Centre which is presently the tallest building in Hong Kong and the Shanghai IFC in Pudong, Shanghai. Date: 17/02/2012 09:17:51 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
