Watson Farley & Williams plots expansion as its moves to bigger offices in New York and Hamburg
WFW expands in New York and Hamburg by up to 50% and invests in its remote working capability
September 23, 2015 at 07:03 PM
3 minute read
Watson Farley & Williams has signed deals to move to bigger offices in New York and Hamburg as it sets it sights on growth.
The firm has signed a 15 year lease on a new office on 250 West 55th Street, New York, and will be moving into its office in February 2016.
The move to its new office, which at 30,417 sqft is nearly one third bigger than its current 22,995 sqft office on the Avenue of the Americas, will allow the firm to expand its headcount in the city.
The firm's co-managing partner Chris Lowe said: "We have 35 lawyers and we see lots of opportunity to grow to 50 lawyers plus."
Lowe singled out the success of the firm's New York real estate practice throughout the current boom in the city, as one of the drivers for expansion.
He added that despite the expansion he didn't envisage the office becoming full service. He said: "We were the first UK firm to open an office in New York in 1990. We didn't want to be full service as you can see the experience of some firms that have gone full service and I don't think it works for a UK reward structured firm in the New York market."
The firm is also on the move in Hamburg after expanding its headcount by 25% in the past year.
The move will expand its floor space in the city from 3,650 sqm to 5,500 sqm, allowing the firm a potential headcount of around 135. It currently has 99 people in its Hamburg office.
Lowe said: "We still feel that we are well away from critical mass in the German market, principally in Hamburg which is our largest office there and it just makes sense to move into a high end premium address… In my view it does have an impact on recruitment and on retention, it is very important."
Lowe said: "Germany is – particularly in the energy and transport sector – growing strongly, so energy and maritime play a very important role. In addition, on the service side they have a good private equity, mittelstand and corporate business and there is opportunity and growth in real estate in that part of Germany. We anticipate growth there and we also expect growth on the litigation side."
The firm is scheduled to move to its new Hamburg location at Neuer Wall 88 in October 2016.
WFW is also investing millions of pounds into its London office, undertaking a refurbishment and expansion project that is scheduled to be finished by January 2016.
It is taking more space in its Appold Street building and is also revamping meeting rooms and technology to increase collaboration and remote working.
Lowe said: "You can operate in an airport lounge in Houston or the office in London, for a road warrior it is very good."
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