British-American law firm Hogan Lovells has struck a 10-year deal with private equity firm Addington Capital to rent out the seventh and eighth floors of the firm’s 10 Fleet Place office building.
The legal sector giant is set to transfer its business services teams to the 10 Fleet Place premises, as it seeks to exit its Atlantic House headquarters, in preparation for the construction of its new purpose-built offices, which are set to be finished by 2026.
The deal will see Hogan Lovells – the world’s 11th largest law firm – rent out 33,112 square feet of space across the seventh and eighth floors of the City office building, at a price of £67.50 per square foot.
Hogan Lovells will also have the option to break its lease halfway through, through use of a five-year break clause.
The move will see Hogan Lovells’ business services team share its 185,000 square foot office building with a raft of major blue-chip firms, including engineering giant Mott MacDonald and broadcaster CNBC.
Hogan Lovells’ business services staff are set to make their exit from Atlantic House in mid-July with a view to moving into Fleet Place in mid-August, as the Anglo-American firm prepares for the demolition of Holborn Viaduct headquarters and the construction of its new glass and steel block.
The law firm’s new Fleet Place premises will place the firm’s business services team at the heart of the City next to major clients, including Goldman Sachs, as well as the Old Bailey criminal courts.