BLP advises on a new £750m mixed use development scheme at The Stage, Shoreditch
International law firm Berwin Leighton Paisner (BLP) has acted for the long term owners of The Stage, Shoreditch, who have secured the development of a new £750m GDV mixed-use scheme.
The site is less than five minutes’ walk from Liverpool Street station, and incorporates the remains of Shakespeare’s 16th century Curtain Theatre, where Romeo and Juliet was first performed.
The deal will see the owners retain the freehold while granting new 250-year leases to a consortium of investors, including Cain Hoy Enterprises, Galliard Homes and MG Properties, in order to develop the 2.3 acre site. The site has consent for a £750m GDV mixed-use scheme including a 40-storey residential tower and over 250,000 sq ft of office, retail and leisure space. The remains of the theatre will be excavated and preserved as part of the development, providing a new tourist attraction.
The multi-disciplinary BLP team was led by Chris de Pury, partner and Head of Real Estate. The team combined a wide selection of the firm’s core expertise, with partner Celia Berg leading on real estate, partner Dylan Mackenzie leading on corporate aspects, partner Elizabeth Bradley leading on tax issues and senior associate Kieran Saunders advising on investment management issues.