UK-focused Brockton Capital has acquired the second phase of the major Shoreditch Village project in East London from Shoreditch Village Ltd, the joint-family investment business of the White and Hall families.
UK-focused Brockton Capital has acquired the second phase of the Shoreditch Village project in East London from Shoreditch Village Ltd, the joint-family investment business of the White and Hall families.
The Shoreditch Village development site has been owned by the two families for over 40 years, and was originally a Victorian timber yard served by the burgeoning Docklands. Business partners Bill Hall and Anthony White acquired the original site and buildings in the late 70’s as a storage facility for their contract fit-out business.
The site is being developed in two phases totalling 150,000 sq ft (13,940 m2): phase one is already under construction by Shoreditch Village Ltd and is due to complete in Q4 2016. The families will retain an interest in the freehold and the prime residential elements, alongside other occupiers, including a 216-room Citizen M hotel and retail spaces at ground floor level.
Brockton Capital will now take over the development of phase two, which has consent for retail and office use. Financial details were not disclosed.
'The acquisition of Shoreditch Village fits perfectly with our fund’s strategy of acquiring and developing mixed use buildings in vibrant London neighbourhoods. The creative and cultural richness of Shoreditch will allow the creation of an environment that will directly respond to the evolving needs of next generation occupiers,' said Charles Tutt, principal at Brockton Capital.
Knight Frank represented the vendor, Colliers represented Brockton Capital.
