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Italian firm Chiomenti has moved into the City of London office space rented by its new French ‘best friend’ Gide Loyrette Nouel.
Chiomenti has made the move into the 15th floor of 125 Old Broad Street, near Bank, from its previous offices in Berkeley Square, Mayfair.
The move comes just months after it emerged that Chiomenti and Gide, along with Iberian firm Cuatrecasas Gonçalves Pereira and Germany’s Gleiss Lutz, had entered into a non-exclusive ‘best friends’ style agreement (26 November 2012).
Managing partner Filippo Modulo played down the move, saying: “We just found a convenient space in the City where we had in mind to move in order to be closer to clients and other peers.”
Gide rents three floors in 125 Old Broad Street but does not occupy all the space. Offices on the 13th floor are sublet to non-legal businesses, a spokesperson said.
The spokesperson added that Gide invited Chiomenti to move in, partly with the aim of being able to work more closely together.
The firm’s UK LLP accounts for the 2011 financial year showed that the operating lease on land and buildings in London cost Gide £1.24m, while the firm also had an onerous lease provision of £2.1m (12 September 2012).
A spokesperson for Cuatrecasas said the firm had no plans to move out of its premises in Tower 42 to join Chiomenti and Gide. German ally Gleiss Lutz does not currently have a London office, having previously taken space in former alliance partner Herbert Smith’s London headquarters.