Baker McKenzie Narrows Search For New London Office
The firm has identified three possible target locations.
February 05, 2020 at 09:59 AM
3 minute read
Baker McKenzie has narrowed its search for a new London office, according to several partners at the firm.
One partner told Law.com's Legal Week that three locations have been identified as possible new bases for the office.
According to the partner, the proposals for the new base will be shared with the partnership in February. A decision on whether the firm will move is expected to be made in March, added the partner.
The firm is also considering staying in its current base, located at 100 New Bridge Street, where its lease runs until 2023.
Another partner said they were "pretty certain" the firm will move, "unless the existing landlord is making a better offer to stay". They added: "But we won't move very far because so many people have bought houses based on their commute."
The first partner added: "I think we probably need to move somewhere new. The current place feels quite tired. This is a good location, but I think the final choice will depend on economics."
Currently, Bakers occupies about 160,000 sq ft in its 100 New Bridge St offices, and the firm appointed Savills last year to find it space not exceeding 150,000 sq ft.
The firm introduced an open plan structure to two of the current office's floors, one of which houses the corporate team. One partner said the trial was "considered a success." He added any new office set up would not be traditional, but that the firm would "probably draw the line on hot-desking".
Baker McKenzie is the latest firm to consider its London office provision.
It joins Magic Circle firms Slaughter and May, Linklaters as well as Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis in the process.
Last summer Law.com's Legal Week revealed Linklaters had appointed a "task-force" to review office options, ahead of its iconic One Silk Street office lease ending in 2026. The firm has its eyes on 20 Ropemaker Street, a 27-storey development less than 400 metres away from its current headquarters.
The same month it emerged Slaughters is considering a move away from its London office. The Magic Circle firm has been based at 1 Bunhill Row in Moorgate since 2002. The current lease expires in 2026, according to a person with knowledge of the situation.
Meanwhile White & Case appointed property consultants JLL in January to review its London office space options ahead of a lease break in 2025.
Baker McKenzie did not respond to requests for comment.
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