Hong Kongese property developer CK Asset Holdings is in talks with a partner in a joint venture that owns Earls Court to purchase a majority stake in the district which has been valued at 700 million pounds ($914.48 million).
The property has 3.4 million square foot, 374,000 square meters and is an estate located in west London.
UK property developer Capital & Counties Properties (Capco) said that it has received proposals with regard to its interest in the property which it is considering, including discussions with CK Asset regarding a conditional proposal for the sale of substantially all of its interests in Earls Court Properties, excluding the Lillie Square joint venture.
CK Asset proposes to purchase 90 percent of the west London site which straddles the Royal Borough of Kensington and Chelsea in the UK capital and is approved for construction of 7,500 homes.