Highgate sells One Fairchild development to Rocket Properties

07 December 2021 by
Highgate sells One Fairchild development to Rocket Properties

Highgate Holdings has sold the One Fairchild development in London's Shoreditch to Rocket Properties for an undisclosed sum.

The unoccupied 0.482-acre site received planning consent in 2016 for a mixed-use scheme, including a 200-bedroom hotel, designed by architect Gensler. It would have been the first Highgate hotel in London, joining managed properties including the Park Plaza Boston and Smyth Tribeca in New York City, and was expected to be completed by 2018.

Rocket Properties will announce £300m plans for a new scheme at the site for a "best-in-class development that prioritises sustainability and technology".

Andrew Hawkins, director of Rocket Properties, said: "One of the most sought-after development opportunities in Shoreditch, we are thrilled to have secured One Fairchild, which is an exciting addition to our growing pipeline of new projects. We are firm believers in London's vitality and its enduring success, and this acquisition is proof of our commitment. We are looking forward to working with the London Borough of Hackney and the local community to maximise the potential of this vital location."

Acting on behalf of the vendor, Marsha Rabinovich, director of Kauffmans, said: "We are delighted to have managed the sale of our clients long leasehold interest in this prime development site, which is situated in a pivotal location in in the heart of Shoreditch. We are seeing resilient demand from occupiers seeking Grade A accommodation in the area and are excited about the prospect of bringing the site forward."

Rocket Properties' London portfolio includes the 251-bedroom Premier Inn on Old Street.

Continue reading

You need to create an account to read this article. It's free and only requires a few basic details.

Already subscribed?

TagsHotels
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking