Capco has announced that the Lillie Square joint venture (between Capco and KFI) has exchanged contracts with an international investor for the sale of all 49 apartments and 31 parking spaces at ‘9 Lillie Square’, the fourth block within Phase 2 of the Lillie Square development.
The total consideration is approximately £66 million (£33 million Capco share). On exchange of contracts a deposit of £6.6 million (£3.3 million Capco share) was received representing 10% of consideration, with a further staged payment of 10% to be received in 12 months and the balance on completion.
Pricing is in line with Phase 2 sales to date, at a modest premium to comparable units in Phase 1. 142 of the 186 units in Lillie Square Phase 2 have now been reserved or exchanged.
Source: capitalandcounties.com 28.02.2018