Cabinet to discuss proposals for new homes and jobs at West Ken

Monday July 11, 2011

Another step towards creating thousands of new jobs and homes at Earls Court is to be decided at the next H&F Council Cabinet meeting.

Councillors are being asked to take a decision on whether the council should enter into an ‘exclusivity deal’ with, EC Properties Limited, a wholly owned subsidiary of Capital & Counties (Capco) which could eventually lead to a development bringing new, modern homes for people living on the West Kensington & Gibbs Green estates.

If approved by both the Council and CapCo’s board, the parties will work exclusively for the next year to see if the final details of a land sale agreement to include the estates in the redevelopment area can be concluded. In order to enter into the proposed exclusivity agreement, EC Properties would pay the Council a non-refundable deposit of £5 million, and £10 million which is refundable if a deal is not agreed within the one year timeframe. 

In 2009 the Council signed a collaboration agreement with EC Properties and Transport for London (TfL), which also owns land in the proposed development area. The latest agreement gives the Council the time and resources needed to work on the proposal in detail to ensure it gets the best deal for estate residents, the wider area and the borough as a whole.

EC Properties is one of three landowners, including Hammersmith & Fulham (H&F) Council and TfL,  working with Sir Terry Farrell on the Masterplan for the possible regeneration of the Earls Court & West Kensington Opportunity Area with the potential to create 7,500 new homes and 12,000 new jobs.

Last month EC Properties submitted an outline planning application for the site, along with a detailed planning application for land at nearby Seagrave Road.

Any future land agreement with EC Properties will be on the condition that a series of council tenants, leaseholder and freeholder guarantees, negotiated with an 80-strong resident steering group, can be met. These include:

• Brand new, modern homes in the development area for all secure council tenants
• Council tenants will be moved with neighbours where possible and will only have to move once
• Compensation for tenants, leaseholders and freeholders
• Discount schemes for resident leaseholder and freeholders who want to buy back into the scheme
• Early buy-out clauses for resident leaseholders and freeholders

Cllr Stephen Greenhalgh, Leader of H&F Council said: “This is yet another important stage in our desire to bring new jobs and homes to the area.

“I have said all along that the Council will not agree to anything unless, first and foremost, redevelopment benefits people living on the estates, followed by the wider area and then the borough as a whole. The set of guarantees negotiated with the residents themselves go way beyond what any other council has done and provides local people with the peace of mind they deserve.

“I also recognise that comprehensive regeneration will benefit London as a whole, providing economic opportunities and affordable housing for thousands of people.”

Maureen Way, who is a member of the West Kensington and Gibbs Green Resident Steering group said: “Contrary to the rumours, many, many people on the West Kensington and Gibbs Green estates want to see what improvement this development could bring to the area. If the development does go ahead, we believe that we have negotiated the best deal for residents.”

Details of the proposed agreement will be discussed by councillors at H&F's Cabinet on July 18.