by Nick Mathiason
West End-based law firm Nabarro Nathanson will site its new headquarters in Midtown, at Land Securities’ 2 Theobalds Court, WC1.
Nabarro’s lease on its present headquarters at Burford’s Mayfair Place, Stratton Street, W1, expires in June 1999. The firm began its search for a new headquarters when it failed to get assurances last year from former owner Norwich Union on its redevelopment plans for the 0.4ha (1 acre) island block.
“It became clear that the owners of Stratton Street were intent on redevelopment and it was impractical for us to assume we could remain where we were,” a Nabarro spokesman said.
The firm has signed a 15-year lease with no break options to occupy 10,683m2 (115,000 sq ft) on four floors in Land Securities’ building, with an option to take another 2,415m2 (26,000 sq ft). It will move in September 1999, paying £291m2 (£27 per sq ft) after a six-months rent-free .
Land Sec managing director Ian Henderson commented: “The large floorplates of up to 2,415m2 (26,000 sq ft) coupled with the convenience of the location proved strong attractions for Nabarro.”
Nabarro is a leading property law firm, the only one based in the West End. The spokesman added that it was possible that the firm could still open a satellite office at Stratton Street.
Nabarro is due to talk with Burford in two weeks.
Jonathan Edwards represented Nabarro, while BH2 and Jones Lang Wootton advised LandSec.
Burford has recently appointed Edward Charles and Jones Lang Wootton to advise on the Mayfair Place redevelopment.
