Head Lease Restructuring
2 Park Street, London W1
Kauffmans advised Beltane and Angelo Gordon on the restructuring of the headlease at 2 Park Street, Mayfair, negotiating with the Grosvenor Estate to facilitate the comprehensive refurbishment of the c.48,000 sq ft building.
The instruction centred on securing a commercially robust lease structure capable of supporting a comprehensive refurbishment of the building whilst delivering enhanced value for the Freeholder. Through strategic negotiations, we achieved terms materially ahead of typical market precedent, reducing the gearing from 15% to 10% whilst maintaining an institutional lease profile. The restructured headlease provides the foundation for the repositioning of this prime Mayfair asset.
