20%

CAPCO BLEEDS IN LON­DON

Finweek English Edition - - IN BRIEF -

Cap­i­tal & Coun­ties Prop­er­ties (Capco) wrote down the value of its land hold­ings in west Lon­don by 20% as higher taxes and po­lit­i­cal un­cer­tainty weighed on the city’s hous­ing mar­ket, Bloomberg re­ported. Capco, which plans to build 10 000 homes at Earls Court with ven­ture part­ners, cut the value of its sites in the dis­trict to £1.1bn, from £1.4bn a year ear­lier. JP Mor­gan Chase & Co. had es­ti­mated a write­down of 30%, Bloomberg re­ported. Capco’s net as­set value fell by 5.9% to 340 pence a share.

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