Law firm Baker McKenzie has become the latest company to reduce the amount of office space it will use in the wake of the coronavirus pandemic.
The US giant, which had originally planned to move into 153,000 sq ft of space at 280 Bishopsgate, EC2, will now only take 130,000 sq ft at the site – less than its current offices at 100 New Bridge Street.
The deal, which was agreed last summer, was for a 15-year lease with owners CBRE Global Investors and King Street Real Estate, in partnership with Arax Properties.
The partners are refurbishing the vacant former London headquarters of the Royal Bank of Scotland to provide 280,000 sq ft of office space, including a new rooftop terrace and balconies overlooking Spitalfields, with completion due by autumn 2021.
News of the downsize was first reported by The Lawyer.
EG understands that Baker McKenzie’s leasing agreement had the option to downsize built in. The firm said the decision would enable it to use space “smartly and more efficiently”.
A spokesperson said: “We have worked remotely successfully over the past year and facilitating and supporting flexible working will be central to our future way of working.”
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