European law firm Taylor Wessing has exchanged contracts with the Land Securities Group to move its UK head office to a building in London's New Street Square development. The law firm is leasing the majority of Building 5 on New Fetter Lane, some 15,400 m[sup]2[/sup] (166,000 square feet), on a 17-year lease. The rental profile varies on the building, with the upper floors costing £50 per square foot.
European law firm Taylor Wessing has exchanged contracts with the Land Securities Group to move its UK head office to a building in London's New Street Square development. The law firm is leasing the majority of Building 5 on New Fetter Lane, some 15,400 m2 (166,000 square feet), on a 17-year lease. The rental profile varies on the building, with the upper floors costing £50 per square foot.
'Our current home at Carmelite, Victoria Embankment, has served us well for the past 13 years but we are fast outgrowing it. The move to New Street Square will provide us with a modern working environment and an excellent platform from which to service our clients. The new office space is also flexible enough to absorb our future growth,' said Taylor Wessing's Managing Partner Michael Frawley.
The building 5 New Street Square is part of a mixed-use scheme, designed by Bennetts Associates. It replaces an assortment of post-war office blocks with four contemporary office buildings, all of which open onto a new landscaped central square lined by shops and cafes. Land Securities said the lease agreement with Taylor Wessing followed the successful lettings of 2 and 3 New Street Square to Deloitte. This leaves about 23,000 m2 of office space and about 2,800 m2 of retail space available within the scheme.
Taylor Wessing is based primarily in the UK, France and Germany, with further offices in Brussels, Alicante, Dubai, Shanghai.
