Hogan Lovells signs deal to move to new flagship London home
Relocation to adjacent redevelopment will reduce floorspace by 15% as firm adopts 'agile ways of working'
Hogan Lovells has signed a 20-year lease to move into a 266,000sq ft redevelopment opposite its current London office on Holborn Viaduct.
The move, planned to go ahead in 2026 following completion of the redevelopment, will take the firm's flagship London team to a smaller space than the one it has occupied since 2001 as it becomes the latest law firm in recent years to trim down its physical office space.
Following the move, the firm will take up all 12 floors of the proposed redevelopment across Kimberley House, Meridian House and 32 Farringdon Street on the southeastern corner of Holborn Viaduct. The redevelopment scheme, designed by PLP Architecture, is set to begin construction this summer.
The firm’s new office space marks a 15% decrease in size from the firm’s previous 320,000sq ft home in Atlantic House, which it has occupied for the last 20 years. A spokesperson for the firm said the change was not due to a planned headcount reduction, but rather a “reflection of efficiencies and evolving work styles and patterns”.
“We have seen a trend in the market over the last decade of office space decreasing, as we, competitors and clients move to increased open plan and agile ways of working,” the spokesperson said.
“The COVID-19 pandemic has accelerated this, and we expect that many of our people will adopt a hybrid model, combining the best of both remote working and office contact. Our new office will allow for a greater efficiency in our use of space than we can achieve in Atlantic House.”
CMS advised Hogan Lovells on the lease. The team was led by real estate partners Barry Morris and Marie Scott and includes partners Karagh Gilliat, Nick Lloyd, Lauren Alder, Ashley Damiral and David Parton, who co-leads the firm’s construction and engineering practice.
“This impressive and sustainable regeneration scheme will offer significant flexibility and encourage new and innovative ways of working,” Morris said, adding that it was “great to support Hogan Lovells as they embark on their exciting next chapter”.
Penny Angell, Hogan Lovells' UK managing partner, said the firm was “excited at the opportunity to redefine how our space can best support our business” by moving into the updated space after more than 40 years in Holborn Viaduct.
“Having the space and technology that reflects our evolving working style and is flexible enough to adapt as the future needs of our people and our clients change is critical,” she said.
Angell added that the building’s sustainability credentials, green spaces and energy and efficiency targets align with the firm’s global sustainability plan and “commitment to being a responsible business”.
Last year, Allen & Overy announced plans to relocate its London headquarters to offices being constructed at 2 Broadgate in a move that would allow it to significantly reduce its floor space by 246,000sq ft and more easily meet its sustainability targets.
Wall Street stalwart Milbank opted not to downsize when it relocated its City base to 100 Liverpool Street in November. The firm’s new space accounted for 70,000sq ft of the 520,000sq ft redevelopment, meaning it increased its floor space by a total of 16,000sq ft.
Chicago giant Kirkland & Ellis also moved its London headquarters from 30 St Mary Axe – known as the Gherkin – to a newly constructed space located at 40 Leadenhall Street in October.