Capco says valuation of London’s Earls Court has been cut

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London-focused developer Capital & Counties Properties says the valuation of its Earls Court estate has been trimmed by more than a tenth

London-focused developer Capital & Counties Properties says the valuation of its Earls Court estate has been trimmed by more than a tenth.

“A number of adjustments have been made to the component parts of the valuation, including increased developer’s margin and total development cost assumptions, as well as a more conservative view on gross development value,” Capco said. Based on this valuation, the implied value of Capco’s property interests in the precinct was £412m , a like-for-like decrease of 10.5% compared with just three months before.

 

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