CAPCO completes joint venture for Seagrave Road (UK)

The development in and around Seagrave Road remains on track to commence in 2013 following the completion of the remaining formalities for the creation of a joint venture between Capital & Counties Properties PLC ('Capco') and entities in which certain members of the Kwok family are interested (the 'Kwok Family Interests').

The development will deliver 808 new homes and a new garden square for London.

On completion of the 50:50 joint venture, in accordance with the conditional agreement reached between the parties in December 2011, Capco received cash consideration of approximately £67 million (approx. €84.5 million) from the Kwok Family Interests for the 50% interest in the development, which includes the Seagrave Road site and other adjacent assets.

Source: CAPCO

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