US-based law firm White & Case has appointed JLL to advise on its UK property strategy which could see it relocate its London office.
Based at 5 Old Broad Street, EC2, since 2003, the firm occupies around 140,000 sq ft according to Radius Data Exchange, but is understood to want to increase its space to closer to 200,000 sq ft.
It has a lease break in 2025 at the building
The firm is the latest to join the raft of law firms out looking for potential new homes in the capital, including magic circle law firm Slaughter & May, which is considering its options.
Fellow “magic circle” law firm Linklaters is understood to be in talks to lease the majority of 20 Ropemaker Street, EC2, ahead of its lease expiry in nearby Silk Street.
According to research from JLL last year, several factors are pushing law firms to change the way they operate, which is altering workplace requirements.
This includes the growth of clients’ in-house legal teams and competition from so-called alternative legal service providers such as Epiq and Consilio which can provide services including document reviews and record management more cheaply. Meanwhile, the major accountancy firms have been upping the legal services they provide.
JLL also reported that US law firms have been pushing ahead with expansion plans in the UK seeking to lure the brightest stars from top “magic circle” firms with lucrative pay packages, which is pushing salaries up and limiting fees, as well as the war for talent forcing firms to look more closely at what they offer their staff, including the working environment they provide.
White & Case and JLL declined to comment.
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
