Greenberg Traurig Maher is turning its back on the iconic environs of the City’s Gherkin in favour of a move to Clerkenwell.
From the middle of next month the firm will begin moving out of the offices it currently leases from Mayer Brown at 30 St Mary’s Axe and into new space at 200 Gray’s Inn Road.
Greenberg is taking around 18,000sq ft – enough to house up to 85 fee-earners – in a six-year deal. The firm also has an option to take more space later if required.
Cate Sharp, the firm’s co-managing shareholder, refused to divulge the rent it will be paying, but said it was “considerably less” than £50 per square foot and significantly less than its current deal.
“We did an enormous amount of research into locations and among clients,” Sharp said. ”Feedback showed us that clients wanted functional space and for us to control our costs.”
She added that the growth of Greenberg’s London headcount since launching last July meant it had come to the natural end of its deal with Mayer Brown.
“We currently have fee-earners sitting in secretarial space,” Sharp said. “There’s literally no space left.”