New Trade Jobs as Kwoks set to roll in £300m deal
Capital and Counties Properties (Capco) today finalised the deal with Hong Kong developers, the Kwok family, to build 800 new homes around Seagrave Road in central London.
The investment is set to bring thousands of new trade jobs for the construction industry and encourage economic growth.
Proposals include building new offices, leisure and retail space as well as a new primary school, library and open public areas. The project will include 200 affordable homes that will be offered to tenants in nearby estates.
Ian Hawksworth, Chief Executive of Capco said: “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.”
In accordance with the conditional agreement reached in December 2011, Capco received cash consideration of approximately £67 million from the Kwok family for the 50 per cent interest in the development, which includes the Seagrave Road site and other adjacent assets.
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Posted on August 31, 2012, in Affordable housing, Building Construction Industry, Building Engineering Sector, Business, Construction, construction jobs, construction news, Employment, Environment, Government, Heath and Safety, Housing Scheme, Infrastructure, Politics, t4ts, train4tradeskills, Train4TradeSkills News, UK Economy and tagged Affordable housing, £300 million investment, building construction industry, Building new homes, Capco, construction, Counties Properties, Developer Capital, employment opportunities, Facebook, Hong Kong, International investors, Kwok, Kwok Family, London development, London residential quarter, New residential scheme, Seagrave Road, t4ts news, Trade Jobs, train4tradeskills news, Twitter, United Kingdom. Bookmark the permalink. Leave a comment.