A&O Mulls London Office Move, Extends New York Base Lease
The firm is staying put in its New York office after reviewing its space earlier this year.
May 06, 2020 at 11:39 AM
3 minute read
Allen & Overy is considering a future move from its current London base and extended the lease on its New York office, according to a person at the firm.
The firm has enlisted Capital Real Estate Partners to advise it on its space in London.
Its lease on its current base at One Bishops Square, Spitalfields, does not end until 2030, with a break clause in 2027.
One London partner said: "Everyone will be thinking about how space is used given people have been working so well from home in the current situation."
Several firms have in recent years changed or experimented with the lay out of their offices, as flexible working has become more accepted.
DAC Beachcroft moved into a new office last year, placing its workforce in a smaller combined area due to the new base's open-plan layout.
The London A&O partner said that some "small teams" in the firm's London office currently work open plan, and that "most associates share offices but most partners do not".
He added: "I do think it's good to have some personal space in an office, given the high stress environment. It also depends on what sort of work you're doing."
Meanwhile the firm has agreed a five-year extension to its current lease on its New York base, after a review of its current working space by a real estate agent kicked off last year.
A spokesperson for the firm said in a statement: "With over 40 offices around the world, we have leases in effect with various tenant break options and expiration dates. Our London office lease does not expire until 2030 with an option to break it in 2027, and as part of our usual forward planning we are considering various options. These options include staying in our current building or moving to different premises."
Several law firms are currently reviewing their London offices including White & Case, Slaughter and May, Linklaters as well as Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis in the process.
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