Law firm Baker McKenzie has agreed a pre-let for just over 150,000 square feet of office space at 280 Bishopsgate in the City.
The company, which has over 1000 people based in London, said it will be moving from its current location at 100 New Bridge Street in late 2023.
The deal will be welcome in London’s commercial property market. There have been some concerns about how future occupier demand for space may look like due to how well some businesses have coped with the working from home model during the Covid-19 lockdown.
Alex Chadwick, Baker McKenzie's London managing partner, said: "Moving into the heart of the City of London represents our long-term commitment beyond Covid-19 to retaining an office base in what is an incredibly important financial centre to the firm.”
He added that expanding the group’s presence in the capital “remains a key strategic growth priority for us in the future....This requires a suitable office environment – a new, modern and eco-friendly space in which we can collaborate, cultivate our firm culture, embrace new technologies, and meet and interact with each other and our clients”.
The firm's new home was bought last year on behalf of CBRE Global Investors’ value-add fund, Europe Value Partners 2, along with funds managed by King Street Capital Management and Arax Properties. The partnership is in the process of a refurbishment to be completed in Autumn 2021.
Property agent Savills advised Baker McKenzie. BH2, CBRE and Cushman & Wakefield are the letting agents on the building.