The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
An influx of US firms looking for further office space in the City is ensuring that the legal sector remains one of the most active in London’s office rental market.
More than 10 US firms have recently instructed the property management sector that they require new or further premises in either the City or Canary Wharf, with most looking for an average of 20,000-25,000sq ft.
Among those US firms looking for space are Bingham McCutchen, which is searching for between 30,000 and 35,000sq ft of extra office space, Fried Frank Harris Shriver & Jacobson, which wants a further 25,000sq ft, while Hunton & Williams wants between 15,000 and 20,000sq ft.
The interest comes despite the fact that the office rental market is predicted to rebound next year, which led many UK firms to move or enter into agreements on new premises earlier in the year.
One industry commentator said interest from the US firms meant that overall demand from the legal sector remained high, and could make up as much as a third of the current demand in the City.
He said that, on average, US firms paid between £40 and £45 per sq ft and required offices with both visual impact and location. For example, Arnold & Porter’s and Kirkland & Ellis’s offices are both in Tower 42.
Other US firms understood to be looking for further office space are Arnold & Porter, Fulbright & Jaworski, King & Spalding, McDermott Will & Emery, Steptoe & Johnson and Wilmer Cutler Pickering Hale and Dorr.