Monday May 11, 2015
SJS Law has advised Shoreditch Village Holdings Limited on the funding of the first phase of a new mixed use development in one of Central London’s most exciting sub-markets. The transaction reached financial close in February 2015 and involved the grant of a long leasehold interest to a wholly owned subsidiary and variations to an existing agreement for lease and building agreement with Dutch based hotel chain, citizenM.
Phase I of Shoreditch Village is under construction and forms an integral part of the overall Shoreditch Village masterplan, for which planning permission was obtained in August 2014. It incorporates an innovative 216-room citizenM hotel as well as The Eight Apartments at King John Court, an exclusive scheme of eight residential units, both with retail accommodation at ground floor.
Managing Director, Steven Scates, first advised Shoreditch Village Holdings Limited, a long term client of the practice, in 2007 as part of the compulsory purchase of part of the site by London Underground Limited for the extension of the East London Line. He comments:
“We are delighted to see Shoreditch Village Holdings Limited’s vision for the Shoreditch Village project being brought to fruition and to have played a part in its success.”
SJS Law is currently advising Shoreditch Village Holdings Limited on the proposed disposal of Phase II of Shoreditch Village - a unique development opportunity providing office, retail and potential residential uses, which is being marketed for offers in the region of £20m.
For further information please contact:
Steven Scates, Managing DirectorTel: +44 (0)20 8704 1643 firstname.lastname@example.org