British Land and GIC are in early discussions with magic circle law firm Allen & Overy on a circa 300,000 sq ft leasing deal at their Broadgate campus, EC2.
The law firm is in talks to move into the joint venture’s 1 Broadgate redevelopment, as first reported by Bloomberg. A 14-storey building is planned for the site, featuring 540,000 sq ft of office, retail and leisure space.
It is understood that the law firm has a 2027 break option for its existing lease at One Bishops Square, E1. Its lease for the offices expires in 2030.
A spokesman for Allen & Overy said: “With over 40 offices around the world, we have leases in effect with various expiration dates and always plan ahead appropriately.
“Our London office lease does not expire until 2030, but as part of our usual forward planning we are collating information on possible options for when the lease comes to an end, including staying in our current building or moving to different premises.”
A&O is the latest law firm reassessing its occupational needs. Others include magic circle peer Clifford Chance, which appointed Cushman & Wakefield to carry out a strategic review earlier this month.
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