Shearman & Sterling’s London office is to sublet half a floor to Ashurst. Ashurst will move around 50 staff across the road to Shearman’s Broadgate West offices on Appold Street in June. The sub-lease was signed in August 2007.
The Broadgate West building already houses parts of Ashurst’s real estate, litigation and energy practices, but it is understood that Ashurst’s tax and investment funds group will move into the sublet space following an increase in numbers at the firm.
A fortnight ago (9 May) TheLawyer.com revealed that Shearman’s entire daytime document production department of six faces redundancy as the firm develops an augmented career path for its secretaries and because the department was not fully utilised.
A Shearman spokesperson said: “We have no comment to make with regard to our space requirements.”