Business
Capco completes Joint Venture for Seagrave Road
Capco completes Joint Venture for Seagrave Road.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n \nRNS Number : 1527L Capital & Counties Properties Plc 31 August 2012 \n \n\nPRESS RELEASE\n 31 August 2012\nCapital & Counties Properties PLC\nCAPCO COMPLETES JOINT VENTURE FOR SEAGRAVE ROAD \nThe 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 from the Kwok Family Interests for the 50 per cent interest in the development, which includes the Seagrave Road site and other adjacent assets.\nIan Hawksworth, Chief Executive of Capco said: \n\"We are pleased to have completed our joint venture agreement in relation to the Seagrave Road project and look forward to starting on site in 2013 to create this exciting new residential quarter for London.\" \n-Ends-\n\n\n\n\nCapital & Counties Properties PLC\n\n\nTel: + 44 (0)20 3214 9150\n\n\n\n\nIan Hawksworth, Chief Executive\n\n\n \n\n\n\n\nSoumen Das, Finance Director\n\n\n \n\n\n\n\nGary Yardley, Investment Director\n \n\n\n \n\n\n\n\nFor financial media enquires please contact:\n\n\n\n\nHudson Sandler (UK) \nMichael Sandler/Wendy Baker\n\n\nTel: +44 (0) 20 7796 4133\n\n\n\n\n \n\n\n \n\n\n\n\nCollege Hill (South Africa) \nNicholas Williams\n\n\nTel: +27 11 447 3030\n\n\n\n\n \nFor general media enquiries please contact:\nChris Rumfitt, Edelman Tel: &nb...