McGrigors has distanced itself further from its former allegiance with KPMG by signing an agreement for new offices in London.
The firm is taking 33,000sq ft of space at 5 Old Bailey, enabling it to move its London operations out of its current location in the same building as KPMG’s offices at 1-2 Dorset Rise.
The move follows McGrigors’ decision late last year to realign itself away from KPMG and to become financially independent from the accountancy firm by 1 October. McGrigors London was formerly KLegal, the legal arm of KPMG, until last year.
McGrigors senior partner Phillip Burroughs said the new location would enable the firm to brand its offices more obviously and would facilitate organic growth of between 5 and 10 per cent over the next two to three years, as 5,500sq ft of the space would initially be sub-let.
He said the firm would pay around £31 per sq ft, and had secured a guarantee from landlord Zilmer, a subsidary of Century Life Plc, for the firm’s rental outgoings for the next 10 years.
McGrigors is currently undertaking a £2m refit of the offices, which will be entirely open-plan and will include 14 meeting rooms and a cordless phone system.
The refit is expected to be completed by November, although Burroughs said the exact relocation date could be as late as December as it is dependent on the firm’s extensive IT infrastructure being in place.