One Fairchild, E1
One Fairchild has everything going for it. This highly sustainable new development will be a huge asset to Shoreditch, contributing to the area’s economic and environmental growth.
Kauffmans has advised on the project throughout its evolution, supporting three key stages in the asset’s journey. Firstly, we were appointed by Highgate Hotels to advise on scheme design and the restructuring of the headlease. Terms were agreed with the freeholder, and the Deed of Variation was completed in April 2021.
We then advised Highgate Hotels on the disposal of the asset to Rocket Properties in November of the same year. Following completion, Rocket immediately re-appointed Kauffmans to provide ongoing development consultancy and strategic advice.
Working alongside Rocket, we advised on a comprehensive restructuring of the headlease to create the commercial framework required to bring forward a significantly larger mixed-use redevelopment. This included extending the lease term to 250 years, reducing the gearing, incorporating adjoining land into the demise and modernising key lease provisions to better support the future development of the site.
The agreed structure unlocked a scheme of approximately 280,000 sq ft, providing the flexibility and long-term certainty required to deliver one of Shoreditch’s most significant regeneration projects. Another example of how the right lease structure can create opportunities that simply weren’t possible before.
