Investment manager Barings has prelet the entirety of its City office development at 25 Moorgate, EC2, to Watson Farley & Williams on a 15-year lease.
The international law firm will move into the eight storey, 70,000 sq ft block in summer 2026 following the building’s completion and fit-out and after the lease runs out on its current offices at 15 Appold Street, EC2.
Lindsey Keeble, managing partner at Watson Farley & Williams, said: “We are excited to have signed with Barings on such a fantastic new home for our 500-plus people in London as their team’s vision and passion for 25 Moorgate aligns perfectly with our firm’s sustainability goals and agile working and staff well-being policies. I am really looking forward to moving in, when we will also be bidding a fond farewell to 15 Appold Street which has been our home since 1992”.
While the firm’s current lease at 15 Appold Street is for around 82,000 sq ft, the new lease is for around 69,000 sq ft. This reduction in space is, according to a spokesperson for the firm, due to the introduction of agile working policies, which the firm had introduced before the onset of the Covid-19 pandemic.
At 25 Moorgate, Watson Farley & Williams will have access to a roof terrace and club space, a seventh-floor café with terraces and end-of-journey facilities.
The building will also provide 7,700 sq ft of retail space at ground and basement level.
Barings acquired the asset on behalf of its European Value-Add II (BREEVA II) fund in March 2022 and is currently refurbishing the space alongside development manager LBS Properties and architect Morrow + Lorraine.
Paul Smith, director of UK asset management at Barings Real Estate, said: “That a firm of the calibre of Watson Farley & Williams is taking the entirety of the office space in 25 Moorgate is a testament both to the building’s quality and the WFW team’s vision for creating an exceptional experience for its colleagues and any visiting clients. 25 Moorgate, nestled in the heart of the city and benefitting from its excellent transport links and amenities, sets the standard for city centre office development and refurbishment schemes.
JLL and Cushman & Wakefield represented Barings; WFW was represented by Squarebrook.
Image from Barings
Send feedback to Dominic Plaskota
Follow Estates Gazette
