Plans to bulldoze Earls Court complex and turn it into an extensive residential area are set to cause a stir in the Kensington and Chelsea and Hammersmith and Fulham property markets in the next few years.
In early January 2010 London based developer Capital and Counties bought the Earls and Olympia exhibition centres which are both situated on the 26 acre area of land that will be redeveloped.
The Earls Court Exhibition Centre was opened in 1937 and has hosted a range of events since then. As the largest exhibition venue in Central London it is one of the UK’s most popular concert arenas. With a capacity of 19 000, the concert hall has seen some history’s most legendary music acts.
Pink Floyd, Led Zeppelin, The Rolling Stones, Queen, Genesis, Metallica, Whitney Houston, Kylie Minoque, Radiohead, and Red Hot Chilli Peppers are just some of the massive artists who have entertained fans at Earls Court concerts. The venue has also hosted the Brit Awards for many years, as well as many important exhibitions and festivals.
But now the new housing project envisioned by Capital and Counties will see the historic building and the surrounding area demolished. Construction will not take place immediately as Earls Court arena will host volleyball matches at the 2012 Olympic Games.
Capital and Counties said that it intends to conduct a thorough public consultation on the matter before publishing any final plans. The company believes that developing the site could provide up to 8000 affordable new homes, as well as thousands of jobs to the local community.
Reactions to the proposal have been mixed. Responding to an online article for the London Evening Standard, some readers expressed disappointment at the plan to destroy yet another historic London building in favour of modern development.
One reader said that the plan is senseless as there are already many unsold developments in London. Another pointed out that the area is already tainted by traffic, noise and pollution and that this would become unmanageable if more people had to live there.
Capital and Counties has set up a website outlining its reasons for the development and welcoming feedback from the public. Should it go ahead, the move will affect a number of parties from residents to small business owners to estate agents in Fulham and Chelsea.