Freshfields consults on plans to set up low-cost base in Manchester
Magic circle firm plans to move back office and legal roles to move to Manchester in phases by end of 2018, taking advantage of cheaper rents
February 09, 2015 at 10:04 AM
2 minute read
Freshfields Bruckhaus Deringer is consulting on plans to open a new low-cost services hub in Manchester.
The plans, first reported by Estates Gazette, make the magic circle firm the latest in a growing list aiming to cut costs by setting up offices in cheaper locations outside London.
Staff were informed of the plans this morning in an internal memo.
The firm is looking at relocating some back office staff to Manchester by the second half of this year, before moving other departments and aspects of legal work across by the end of 2018.
According to Estates Gazette, potential locations for the Manchester office include One and Two St Peter's Square, Allied London's Cotton Building, Ask Developments' 101 Embankment, English Cities Fund's One New Bailey and NOMA's Hanover Building as the firm looks to cash in on rents that average about half the cost of London real estate.
There is currently no concrete plan which departments will make the move when, or how many square foot of space the firm will take, but Freshfields has hired estate agent Knight Frank to help manage the transition.
It is not yet clear whether there will be job losses as part of the move as Legal Week understands that discussions on staffing levels are at a very early stage.
The news comes as Latham & Watkins is also hoping to set up a low-cost base in Manchester in the first half of 2015.
The city is already home to Addleshaw Goddard's transaction services team of paralegals, while Berwin Leighton Paisner (BLP) launched a low cost legal services centre in Manchester last year.
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