Reed Smith is to leave its current London base at Broadgate Tower for new, more sustainable premises near the Spitalfields area.
Scheduled to take place in early 2024, the firm will move to Blossom Yard & Studios, based at the new Norton Folgate development, and located in the Shoreditch-Spitalfields intersection in the heart of the city.
The new office is approximately 126,000 sq ft—a fraction smaller than its current space which is 127,000 sq ft, according to a person close to the matter—and will house all of the firm’s 350 London lawyers and almost the same number of professional staff across 10 floors, as well as a three-floor converted warehouse that is part of the wider Norton Folgate development.
The firm has been resident at Broadgate Tower since 2008. At the end of 2018, it relinquished two floors following a review of its requirements.
According to the person, the lease for the new space has not been signed yet.
The Norton Folgate development was developed to the highest sustainability standards, according to the firm’s statement, with 100% of the building’s energy coming from renewable sources, enabling the firm to reduce its carbon footprint.
Andrew Jenkinson, Reed Smith’s London office managing partner said: “The events of the last two years have led to fundamental changes in the way we work together. This led us to rethink the space we need for the future and how we can use that creatively. Our people have more choice and flexibility in how and where they work than ever before and our new offices will be an attractive, vibrant and dynamic destination.”
The Norton Folgate development will also include five new restaurants, one bar and eight retail shops.
A number of firms have been making office changes recently. Clifford Chance said in April that it is increasing its Newcastle base by 50%, and in March U.S.-headquartered Jenner & Block announced it had signed a lease for a significantly larger London lease.