Residents near former Earls Court Exhibition Centre seek reassurance over Saudis £2.3bn deal 

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Residents near former Earls Court Exhibition Centre seek reassurance amid possible Saudis’ £2.3bn deal

  • Saudi sovereign wealth fund and Candy are in talks to buy Capital & Counties
  • Local residents want reassurances from the potential new owners
  • They have been in a decade-long battle with Capco and fear for their homes 

By Ben Harrington For The Mail On Sunday

Published: | Updated:

Residents near the former Earls Court Exhibition Centre in London are putting pressure on the Saudi Arabian ambassador over a £2.3billion deal that would see the Gulf state and British property tycoon Nick Candy join forces to build on the site.

It emerged last week that the $320billion Saudi sovereign wealth fund and Candy were in talks over a takeover deal for FTSE 250-listed Capital & Counties, which owns the Earls Court site.

Local residents want reassurances from the potential new owners

Local residents want reassurances from the potential new owners after a decade-long battle with Capital & Counties over threats to demolish their homes in the redevelopment.

Andy Slaughter, MP for Hammersmith, last week wrote to Prince Khaled bin Bandar bin Sultan Al Saud, the Saudi ambassador to the UK, to explain that a delegation from the West Kensington and Gibbs Green estates planned to visit the embassy to deliver letters about their concerns.

Sources said the ambassador has told Mr Slaughter he would be ‘happy to meet’ him to discuss the matter.

 

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