Capital & Counties Properties Plc is partnering Network Rail in a joint venture to redevelop the Clapham Junction station in south London, Property Week reported.
CapCo Managing Director Gary Yardley told the publication that the scale, cost, planning and funding situation have not been established yet, but development work and the solving of technical and infrastructure problems around the Clapham Junction railway station were "right for London." The two companies are currently working on ideas and proposals for the railway station.
Yardley did not disclose the cost of the project but noted that it will take "a lot of money to fix" the station. Unnamed sources close to the partnership provided a redevelopment estimate of approximately £500 million, according to the Jan. 20 report.
Separately, CapCo is also developing projects in other parts of London, including the delivery of the first batch of new homes at Lillie Square, part of its Earls Court Masterplan development.