Simmons & Simmons weighs future of London HQ

Law firm Simmons & Simmons is weighing up whether to move from its London office. The firm has appointed Cushman & Wakefield to lead a review on its international headquarters at Brookfield’s CityPoint, 1 Ropemaker Street, EC2. The company leased just over 280,000 sq ft in the tower in 1998 on a 25-year lease but today occupies around 150,000 sq ft of that. However, one market source said that if it decides to leave its current premises the firm could scale back up and take up to 250,000 sq ft. This is not the first time the firm has considered leaving CityPoint. It appointed Cushman to conduct a similar review process in 2019, then regeared its lease at the building until 2035. Simmons & Simmons also explored options for a wholesale relocation in 2015, which would have involved exercising a 2020 break option, before it decided to regear and stay in the landmark tower. Brookfield bought the freehold of the building from receivers at KPMG for £561m in 2016, after Beacon Capital Partners defaulted on loan tied to the block. All parties declined to comment. If Simmons & Simmons goes ahead with the move, it would join the list of law firms that are hunting for office space in the capital and would add to the over 1m sq ft of active London office requirements. Other firms on the lookout include Reynolds Porter Chamberlain, which EG revealed is looking for 70,000 sq ft in central London. The firm is nearing a 2027 lease expiry on its offices at Tower Bridge House, E1, and has appointed RX London to lead its search. Also on the hunt is City-based litigation and dispute resolution firm Pallas Partners. The boutique firm is currently based at 1 King William Street, EC4, and is in the market for 15,000 sq ft, according to a spokesperson. Check out lettings in the City of London >> Photo © Daniel Lynch/Shutterstock