The developers of one of London’s largest ever speculative office towers have finally secured the building’s first prelet, just months before its scheduled completion.
Law firm HFW has exchanged contracts to lease 62,000 sq ft of offices at 8 Bishopsgate, EC3, Mitsubishi Estate’s 50-storey skyscraper in the City of London, which Stanhope is developing.
The firm will occupy the seventh, eighth and ninth floors at the £900m City scheme, which will contain 560,000 sq ft of offices and 75,000 sq ft of amenity space.
HFW, which has 20 offices across the Americas, Europe, the Middle East and Asia-Pacific, will relocate from its existing London headquarters at Friary Court, EC3, to 8 Bishopsgate in 2023.
HFW’s space at the tower includes 59,715 sq ft of offices and a 2,206 sq ft terrace on the ninth floor, marking a downsize from its current headquarters, where it has around 72,000 sq ft. This is to accommodate a new hybrid working policy across the company.
The building is targeting BREEAM Outstanding and an EPC A rating, with smart office features such as customisable air quality across each floor.
HFW managing partner Jeremy Shebson said the environmental credentials were a key reason for choosing the site, adding: “We are pleased to have found a building that aligns with our commitments as a responsible business, with incredibly low carbon emissions as well as outstanding facilities for active travel and wellbeing.”
The move comes amid a shift in the office leasing market among law firms, as legal giants jockey for position amid a flurry of upcoming lease expiries.
Baker McKenzie, Allen & Overy, Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis have all struck leasing deals in the Square Mile in the past year.
David Camp, chief executive of Stanhope, said: “The plans for 8 Bishopsgate were created pre-pandemic, yet despite how the past two years have affected the way we live, this tower is still at the cutting edge of sustainability, as well as providing exceptional amenities for tenant needs and wellbeing.”
HFW was represented by Knight Frank; Mitsubishi was advised by BH2 and Knight Frank.
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