UK: Law firms dispense with trophy offices

UK: Law firms dispense with trophy offices

International law firms are getting rid of their “trophy offices as they attempt to cut space by as much as half, given the shift to remote working in the past year.

Law firm moves in London are among the most valuable deals in the city, with expensive offices designed to impress clients and attract top graduates.

Slaughter and May last month renewed its lease on One Bunhill Row in the City of London for 10 years, bringing to an end its search for new premises.

Allen & Overy extended its lease for five years at the Sixth Avenue skyscraper in New York that also houses Mayer Brown and White & Case.

Last year was projected to be the busiest since 2015 for law firm office moves – at least 15 London firms were due to take up new spaces.

Freshfields Bruckhaus Deringer put aside almost £2m for capital expenditure associated with its move to skyscraper 100 Bishopsgate in London. The 250,000 square feet space is expected to cost the firm about £16.5m a year.

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