‘Retain and repair… rather than replace,’ says firm in sustainability-driven decision
A flurry of major City players have announced plans to relocate offices recently, but Taylor Wessing has opted to stay put, instead setting out plans for a major office refurb.
The firm has agreed to a renewed lease of 175,000 sqft office space at 5 New Street Square. It describes the extensive refurbishment of the building as “investing in the future of our office”, and said a vision is underway for a “reimagined, modernised and more sustainable London headquarters”.
The decision to stay was driven by a need for sustainability, says the firm, and the aim of the refurbishment is to create the feel and facilities of a brand-new building without the same environmental impacts.
Changes will include a new reception, lifts and an outdoor communal terrace, as well as the decarbonisation of the building by replacing old gas boilers with new air-source heat pumps. The firm says that wherever possible its objective is “to retain and repair, rather than replace”.
Previously Legal Cheek shared a tour of the eye-catching artwork currently adorning the walls of Taylor Wessing’s office, which scored an A in our latest Trainee and Junior Lawyer Survey.
@legalcheek The artwork in this law firm is 🔥#law #taylorwessing #london #art #fypage ♬ The Business – Tiësto
Shane Gleghorn, Taylor Wessing’s UK managing partner, commented:
“This is an exciting moment in the evolution of Taylor Wessing. In considering our options, we have been guided by our people who have made it clear that they wish to connect with one another and our clients in an environment that reflects our culture and commitment to sustainability. We are delighted that we will be able to create this at 5 New Street Square so that we can grow in the coming years.”
Legal Cheek has reported several City firms planning to relocate their offices in the next few years. Dentons have signed the lease for an 80,000 sqft office at One Liverpool Street, Allen & Overy confirmed its 2027 move to 2 Broadgate, and Linklaters will relocate to a new site at 20 Ropemaker Street, Moorgate, from 2026.
Meanwhile, Kirkland & Ellis will be leaving their Gerkin home for 40 Leadenhall Street, and Addleshaw Goddard, Travers Smith and Hogan Lovells have planned moves for 2024, 2025, and 2026, respectively.