Following the signing of the Section 106 agreement between the London Borough of Hammersmith & Fulham (LBHF), the Royal Borough of Kensington and Chelsea, London Underground Limited (LUL), Transport for London (TfL) and Capco, outline planning consent has been given for the Earls Court Masterplan.

The Masterplan covers an area of 77 acres and provides for 10.1 million square feet of new residential-led, mixed-use space and has already been approved by the Mayor of London and the Secretary of State for Communities and Local Government.

Gary Yardley, Investment Director of Capital & Counties Properties PLC, said: "The formal planning consent, the signing of the Section106 agreement and the exercise of the Conditional Land Sale Agreement are positive steps forward and add further momentum to the Earls
Court project. These milestones will allow us to work with the local authorities to take this exciting development forward and deliver the Earls Court Masterplan which will create 7,500 much needed new homes and 12,000 jobs."

The Section 106 agreement includes a series of community benefits which will be provided during the implementation of the Masterplan, including transportation improvements, new open green space and employment and skills training for the local community.

The first detailed planning application, which covers the Earls Court Village, is expected to be submitted before the end of this year.