Capital & Counties (Capco), which was spun out of SA businessman Donald Gordon’s Liberty International in 2010, is banking on its iconic retail estate asset, Covent Garden, to drive its future growth, having agreed to sell its interest in Earls Court for more than R8bn.
This is a change in strategy as the company, which has a market capitalisation of R40bn, had previously wanted to split into two separate groups, one focusing on a residential scheme at Earls Court and the other holding Covent Garden as its asset. Designed and laid out in 1630, Covent Garden was the first modern shopping square in London. ..
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