Freshfields set to ditch Fleet Street HQ in favour of new City skyscraper
Magic circle giant will reduce its London floor space by a quarter in the process
Freshfields Bruckhaus Deringer has put pen to paper on a deal that will see it ditch its plush Fleet Street headquarters for a brand new City skyscraper.
The magic circle outfit — which offers around 80 training contracts annually — has signed a lease to take over around 300,000 sq ft of office space at 100 Bishopsgate (pictured). Due to be completed in 2018, the new tower will have 37 floors and stand over 180 metres tall.
But lawyers at the firm needn’t clear their desks just yet. The lease on Freshfields’ current office space — which was handed a B rating in Legal Cheek’s exclusive law firm survey — doesn’t expire until 2021.
According to The Lawyer (£), the move will see the firm reduce its London floorspace “by around a quarter”. This follows the firm’s recent decision to relocate its low level legal work to a new Manchester support hub.
The firm — which had considered moving into London’s iconic Gherkin building at one point — will be in good company. Legal neighbours will include the likes of Latham & Watkins, Kirkland & Ellis and Squire Patton Boggs.
Legal Cheek has contacted Freshfields for comment.
UPDATE: 15 February 12:10pm
Freshfields has now confirmed it will move into its new City HQ in 2021. Signing a 20-year lease, Legal Cheek understands that the magic circle giant will pay in the region of £16 million per annum.