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Boodle Hatfield, which has the most expensive offices of this year’s UK200 firms, has confirmed that it is to move to new offices in London’s Bankside, with the firm’s flagship premises set to open in July 2014.
The firm, which specialises in acting for wealthy individuals, families, property owners and businesses, is taking 24,000 square feet of accommodation at 240 Blackfriars Road but will maintain its links with Mayfair by opening a new office in west London at the same time as the main office move to Bankside.
Boodle Hatfield senior partner, Richard Maughan said the firm’s move to Bankside would enable it to improve its service to clients and attract new talent.
“The offices on floors nine and 10 of the Bankside development offer a light and modern working environment at the heart of a vibrant business and cultural district,” added Maughan. “Together with our offices in Mayfair and Oxford, these premises will provide us with a fantastic base from which to continue the growth and development of the firm”.
This week it emerged in The Lawyer UK 200 Annual Report 2013 that Boodle Hatfield was paying the highest per square foot rent of any of the firms that provided property data. The blue blood firm currently pays £91.50 for each of its 29,693 square feet of West End space, according to data it provided to The Lawyer.
At the other end of this scale is new entrant Winn Solicitors, which pays just £6.25 per square foot for its offices in Newcastle.
The biggest spender on property among the firms that provided data was Allen & Overy, which spent £40m last year in the UK, compared with £18.9m at Eversheds, £10.5m at Clyde & Co and the £9m at DWF.
Boodle Hatfield’s Bankside property is being developed in one of London’s fastest developing areas by the Great Ropemaker Partnership, a 50:50 joint venture between Great Portland Estates and Ropemaker Properties, the property nominee of the BP Pension Fund.
A Mayer Brown team led by global head of real estate Jeremy Clay and including senior associate Rose Meller advised Boodle Hatfield on the deal.