Shinfield Studios
Who is the client? Shinfield Studios Limited is the UK flagship of the Shadowbox Studios global platform. The development at Shinfield Studios, near Reading, comprises a state-of-the-art studio complex including sound stages, offices, workshops and infrastructure, and constitutes a major piece of international investment into the UK’s TV and film industry. Farrer & Co’s involvement: Coordinated, integrated advice from the firm’s commercial real estate, corporate, banking, employment and tax teams to support a global business establishing and investing in the UK.
Background
This greenfield new build development is the UK flagship of the Shadowbox global platform and constitutes a major piece of international investment into the UK’s TV and film industry. It is expected to generate between £500-600 million of inward investment annually and in the region of 3,000 new jobs.
The community benefits of this scheme, including major Biodiversity Net Gain contributions, improvements to local infrastructure and the creation of a new cinema facility, highlight the importance of placemaking and sustainability in major commercial developments and landowners, developers and planners working together to achieve outcomes that represent more than the sum of their parts.
Our work
We advised Shadowbox Studios on the development of nearly 1 million square feet of studio space, which will include 18 purpose-built sound stages, as well as offices, workshops and infrastructure.
This was a complex matter, bringing together a joint venture involving the University of Reading, a global investor and developer with expertise in film studio development, a leading international real estate lender and a global film production company. Our work included advising on the complex long leasehold and joint venture structures and managing the competing demands of those involved in the deal, which required strategic, commercially astute advice and creative, bespoke solutions.
Led by the commercial real estate team, this multi-faceted transaction involved significant and fully integrated participation from the firm’s corporate, banking, employment and tax teams. It demonstrates the big-ticket development work the firm carries out, as well as the importance of the breadth of the firm’s practice in providing a one-stop shop for clients investing in the UK.
Why it matters
This matter reflects Farrer & Co’s ability to bring together experts from across the firm to support complex and high-value investment opportunities for international entrants in a fast-evolving and challenging UK market.
The work required careful and seamless coordination across practice areas, rather than providing siloed advice. We demonstrated a sound commercial understanding of the issues and of the future goals for those involved, as well as providing in-depth technically precise advice - another consistent feature of our firmwide approach for clients.
Our experience gained from advising major UK property-owning institutions and understanding the challenges they face stood us in good stead to provide innovative and astute advice to a sophisticated international player, resulting in a deal that provides strategically important international investment for the UK creative industry.
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